Question: ecora petty 7.5 (LO 3) AP Bulyea Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of

ecora petty 7.5 (LO 3) AP Bulyea Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of $100. On February 28, there were $5 sh and the following petty cash receipts in the petty cash box: Date Receipt No. For Amount Feb. 15 1 Supplies $10 18 8 N Postage expense 20 3 Freight in (assume perpetual inventory system) 30 21 4 Supplies 13 22 5 Delivery expenses 17 27 6 Supplies 23 structions a. Record the journal entry on February 14 to establish the petty cash fund. b. Record the journal entry on February 28 to replenish the fund. tions
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
