Milton Gaming Supplies started a petty cash fund on June 15, with a balance of $300....

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Milton Gaming Supplies started a petty cash fund on June 15, with a balance of $300. By June 26, it had $25 in cash and $275 in petty cash tickets. This included $235 of courier receipts, which they report as delivery expenses, and $40 of RONA receipts, which will be recorded as maintenance expenses. They recognized that the petty cash account was too small, so on July 1, it was increased to have a $400 balance. Record the petty cash transactions. Explanations are not required. Milton Gaming Supplies started a petty cash fund on June 15, with a balance of $300. By June 26, it had $25 in cash and $275 in petty cash tickets. This included $235 of courier receipts, which they report as delivery expenses, and $40 of RONA receipts, which will be recorded as maintenance expenses. They recognized that the petty cash account was too small, so on July 1, it was increased to have a $400 balance. Record the petty cash transactions. Explanations are not required.

Answer rating: 100% (QA)

here are the journal entries to record the petty cash transactions for Milton Gaming Supplies ... View the full answer