Cactus Restoration Company completed the following selected transactions during May 2016: Oct. 1. Established a petty cash
Question:
Cactus Restoration Company completed the following selected transactions during May 2016:
Oct. 1. Established a petty cash fund of $750.
12. The cash sales for the day, according to the cash register records, totaled $12,440
The actual cash received from cash sales was $12,465.
31. Petty cash on hand was $157. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:
Oct. 3. Store supplies, $390.
7. Express charges on merchandise sold, $35 (Delivery Expense).
9. Office supplies, $16.
13. Office supplies, $22.
19. Postage stamps, $12 (Office Supplies).
21. Repair to office file cabinet lock, $15 (Miscellaneous Administrative Expense).
22. Postage due on special delivery letter, $27 (Miscellaneous Administrative Expense).
24. Express charges on merchandise sold, $55 (Delivery Expense).
30. Office supplies, $6.
Oct. 31. The cash sales for the day, according to the cash register records, totaled $18,820.
The actual cash received from cash sales was $18,780.
31. Decreased the petty cash fund by $100.
Instructions
Journalize the transactions.
Step by Step Answer:
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac