Lynns Music School created a $370 petty cash fund on August 1. During the month, the fund
Question:
Requirements
1. Record the journal entry to create the petty cash fund.
2. Assuming that the cash in the fund totals $226 on August 31, make the journal entry to replenish the petty cashfund.
Transcribed Image Text:
Petty Cash Ticket No. Item Account Debited Amount 1 Delivery of programs to customers Delivery Expense S10 2 Mail package Postage Expense Supplies Expense Miscellaneous Expense Supplies Expense 50 Newsletter 4 Key to closet 5 Computer diskettes 40 25
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Journal DATE ACCOUNTS POST REF Dr Cr Aug 1 Petty c...View the full answer
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SRIRAM GUPTA
RIGHT FROM THE BEGINNING OF MY STUDIES, I LOVED TO KNOW ABOUT CHEMISTRY. I WAS INTERESTED IN HOW CHEMICALS WORK AND WHAT THEIR PROPERTIES ARE. I CHOOSE CHEMISTRY AS MY HONOR SUBJECT IN GRADUATION AND I READ ABOUT THE STRUCTURE OF CHEMICALS, THEIR PROPERTIES AND HOW THEY WORK.
I TEACH PHYSICS AND CHEMISTRY TO INTERMEDIATE STUDENTS IN KRISHNA CLASSES COACHING. I PREPARE KIDS IN SUCH A WAY THAT THEY NOT ONLY TOP IN THEIR HOME EXAM BUT THEY ALSO PERFORM WELL IN BIG COMPETITIONS IN THE COUNTRY.
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