KB Company uses a petty cash system. The fund was established on March 1 with a balance
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Question:
KB Company uses a petty cash system. The fund was established on March 1 with a balance of $300. During March the following petty cash receipts were found in the petty cash box.
Stamp Inventory $84
Freight-Out 72
Miscellaneous Expense 62
Travel Expense 59
The fund was replenished on March 15 when the fund contained $25 in cash. On March 20, the amount in the fund was increased to $300.
Instructions
Journalize the entries in March that pertain to the operation of the petty cash fund.
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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