Prepare journal entries for each of the following: a. Issued a check to establish a petty cash
Question:
Prepare journal entries for each of the following:
a. Issued a check to establish a petty cash fund of $500.
b. The amount of cash in the petty cash fund is $85. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $360, and miscellaneous selling expense, $40. Record any missing funds in the cash short and over account.
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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