Jeremiah Restoration Company completed the following selected transactions during January: January 1. Established a petty cash fund
Question:
Jeremiah Restoration Company completed the following selected transactions during January:
January 1. Established a petty cash fund of $900.
12. Cash sales for the day, according to cash registers, were $6,148. Actual cash received from cash sales was $6,180.
31. The petty cash available was $75.
Replenishment of the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:
January 3. Supply store, $470.
7. Express charges on merchandise sold, $55 (Shipping Costs).
9. Office supplies, $30. 13. Office supplies, $11.
19. Postage stamps, $55 (office supplies).
21. Office filing cabinet lock repair, $60 (miscellaneous administrative costs).
22. Postage Due on Special Delivery Letter, $30 (Miscellaneous Administrative Expenses).
24. Express charges on merchandise sold, $85 (Shipping Costs). 30. Office supplies, $14. January
31. Cash sales for the day, according to cash registers, were $4,550. Actual cash received from cash sales was $4,536.
31. The petty cash fund decreased by $200.
Record the journal entries of these transactions.
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac