On March 1, a company established a $75 petty cash fund. On March 12, the petty cash
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Question:
On March 1, a company established a $75 petty cash fund. On March 12, the petty cash fund contains $3 in cash and the following paid petty cash receipts:
Petty Cash Receipts | Amount |
---|---|
Postage Expense | $19.50 |
Gasoline Expense | 14.25 |
Miscellaneous Expense | 6.00 |
Office Supplies | 30.00 |
Prepare the general journal entries to (1) establish the petty cash fund, to (2) reimburse the fund, and to (3) increase its amount to $150 on March 12.
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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