Net Perks Co. establishes a $290 petty cash fund on January 1. On January 8, the fund shows $193 in cash along with receipts for the following expenditures: postage, $41; transportation-in, $12; delivery expenses, $14; and miscellaneous expenses, $30. Net Perks uses the perpetual system in accounting for merchandise inventory.

Prepare journal entry to reimburse it on January 8. (Omit the "$" sign in your response.)

Prepare journal entries to both reimburse the fund and increase it to $340 on January 8, assuming no entry in part 2. (Omit the "$" sign in your response.)

Answer rating: 100% (QA)

Date General Journal Debit Credit Jan 8 postage ... View the full answer