The following information is from Madison Corporation's accounting records for May. Check #3269 was returned as a
Question:
The following information is from Madison Corporation's accounting records for May. Check #3269 was returned as a double payment and voided. Checks that have not cleared the bank include #3252, #3260, and series #3275–3278.
Check # | Amount | Check # | Amount |
3247 | $ 32.64 | 3263 | $ 24.87 |
3248 | 400.00 | 3264 | 45.00 |
3249 | 309.22 | 3265 | 33.78 |
3250 | 256.00 | 3266 | 756.77 |
3251 | 3,212.17 | 3267 | 84.34 |
3252 | 56.89 | 3268 | 789.00 |
3253 | 98.02 | 3269 | 48.90 |
3254 | 47.55 | 3270 | 34.41 |
3255 | 1,124.77 | 3271 | 872.00 |
3256 | 250.00 | 3272 | 22.00 |
3257 | 68.00 | 3273 | 562.38 |
3258 | 215.56 | 3274 | 512.00 |
3259 | 38.55 | 3275 | 603.50 |
3260 | 92.65 | 3276 | 67.00 |
3261 | 44.61 | 3277 | 301.61 |
3262 | 72.96 | 3278 | 47.88 |
In addition to the above list of the checks, Madison had check #2264 for $32.98 and check #2655 for $45.99 outstanding previously that have not cleared.
1. What is the total amount of checks that cleared the bank (written in May)? Round your answer to two decimal places.
Journalize the entries to record the following:
March 1 | Established a petty cash fund of $750. |
March 31 | The amount of cash in the petty cash fund is now $583. The fund is replenished based on the following receipts: office supplies, $50 selling expenses, $127. |
Record any discrepancy in the cash short and over account. If an amount box does not require an entry, leave it blank or enter "0".
account title | Debit | Credit | |
March 1 | |||
March 31 | |||
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella