Question: Exercise 7-5 Oriole Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of $170. On February 28,
Exercise 7-5 Oriole Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of $170. On February 28, there were $6 cash and the following petty cash receipts in the petty cash box. Date Receipt No. For Amount Feb. 15 1 Supplies $17 18 2 Miscellaneous expense 11 20 3 Freight in (assume perpetual inventory system) 51 21 4 Supplies 23 22 5 Delivery charges on outgoing freight 28 27 6 Supplies 40
US Weygandt, Accounting Principles, Seventh Canadian Edition, Volume 1, Custom Course for Seneca Colleg Hele System Announcements Exercise 7-5 Oriole Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of $170. On February 28, there were $6 cash and the following petty cash receipts in the petty cash box De Your answer is correct. Record the journal entry on February 14 to establish the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Your answer is partially correct. Try again. Record the journal entry on February 28 to replenish the fund and increase the balance to $300. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Ir no entry is required, select "No Entry" for the account titles and enter for the amounts.)
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