Present entries to record the following transactions: (a) Established a petty cash fund of $350. (b) The
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Question:
Present entries to record the following transactions:
(a) Established a petty cash fund of $350.
(b) The petty cash fund now has a balance of $75.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies expense, $89.50; miscellaneous administrative expense, $108.75; and miscellaneous selling expense, $65.60.
(c) Increased the petty cash fund to $400.
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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