In general journal form, prepare journal entries to establish a petty cash fund on December 1 and
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In general journal form, prepare journal entries to establish a petty cash fund on December 1 and replenish it on December 31.
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201X December 1 A $108 petty cash fund is established. At the end of the month, $35 cash plus the following paid vouchers exist: donations expense, $15; postage expense, $13; office supplies expense, $26; miscellaneous expense, $19. 31
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Dec 1 Petty Cash 1 0 8 00 Cash 1 0 8 0...View the full answer
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I did Master of Commerce in year 2009 and completed ACCA (Association of Chartered Certified Accountants) in year 2013. I have 10 years of practical experience inclusive of teaching and industry. Currently i am working in a multinational company as finance manager and serving as part time teacher in a university. I have been doing tutoring via many sites. I am very strong at solving numerical / theoretical scenario-based questions.
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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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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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