Question: Content Area Comprehensive Problem 3 Part 1: Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 20Y5, were as follows:
Content Area Comprehensive Problem 3 Part 1: Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 20Y5, were as follows: 1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 3: Issued a check to establish a petty cash fund of $4,500. Date Description Debit Credit Jan. 3 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 Feb. 26: Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1,680; miscellaneous selling expense, $570; miscellaneous administrative expense, $880. Date Description Debit Credit Feb. 26 fill in the blank 8 fill in the blank 9 fill in the blank 11 fill in the blank 12 fill in the blank 14 fill in the blank 15 fill in the blank 17 fill in the blank 18 Apr. 14: Purchased $31,300 of merchandise on account, terms n/30. The perpetual inventory system is used to account for inventory. Date
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