Joys Dance Studio created a $270 imprest petty cash fund. During the month, the fund custodian authorized
Question:
Requirements
1. Make the general journal entry to create the petty cash fund. Include an explanation.
2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $83. Include an explanation.
3. Assume that Joys Dance Studio decides to decrease the petty cash fund to $130.
Make the general journal entry to record this decrease.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Question Posted: