In Exercise 5, if the custodian decided to raise the level of petty cash to $29.75, what
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In Exercise 5, if the custodian decided to raise the level of petty cash to $29.75, what would be the journal entry to replenish? (Use a general journal entry.)
Exercise 5
Petty cash was originally established for $21.00. During the month, $4.70 was paid out for pencils and $5.70 for straws. During replenishment, the custodian discovered that the balance in petty cash was $7.70. Record, using a general journal entry, the replenishment of petty cash back to $21.00.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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