1. Prepare journal entries for each of the following: A.On March 1, issued a check to establish...
Question:
1. Prepare journal entries for each of the following:
A.On March 1, issued a check to establish a petty cash fund of $900.
B.On April 1, the amount of cash in the petty cash fund is $115. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $550, and miscellaneous selling expense, $200. Record any missing funds in the cash short and over the account.
2. Journal the following:
A. On March 1, issued a check to establish a petty cash fund of $900.
B. On April 1, the amount of cash in the petty cash fund is $115. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $550, and miscellaneous selling expense, $200. Record any missing funds in the cash short and over the account.
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren