Prepare journal entries for each of the following: a. Issued a check to establish a petty cash
Question:
a. Issued a check to establish a petty cash fund of $300.
b. The amount of cash in the petty cash fund is $95. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $120 and miscellaneous selling expense, $75. Record any missing funds in the cash short and over account.
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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