Question: 1) Describe the responsibilities of the Petty Cash Custodian. On January 13, 2023, Garnet and Associates

Question:

1) Describe the responsibilities of the Petty Cash Custodian.

Transcribed Image Text:

On January 13, 2023, Garnet and Associates established a petty cash fund in the amount of $75. On January 20, 2023, the cash on-hand totaled $10.40, and the petty cash fund was replenished based on the following expenses: Office Supplies $35.75, Postage $21.10, Miscellaneous $7.94 Record the journal entries related to the fund's establishment and replenishment in the journal pages below. IMPORTANT Both journal pages contain more rows than you need. You can navigate from one cell to another using your mouse or the arrow keys on your keyboard. Please DO NOT format your entries using the formatting buttons. A BI Journal Date Journal Date Accounts and Explanations Accounts and Explanations PR PR Debit Debit Page 8 Credit Page 11 Credit On January 13, 2023, Garnet and Associates established a petty cash fund in the amount of $75. On January 20, 2023, the cash on-hand totaled $10.40, and the petty cash fund was replenished based on the following expenses: Office Supplies $35.75, Postage $21.10, Miscellaneous $7.94 Record the journal entries related to the fund's establishment and replenishment in the journal pages below. IMPORTANT Both journal pages contain more rows than you need. You can navigate from one cell to another using your mouse or the arrow keys on your keyboard. Please DO NOT format your entries using the formatting buttons. A BI Journal Date Journal Date Accounts and Explanations Accounts and Explanations PR PR Debit Debit Page 8 Credit Page 11 Credit

Answer rating: 100% (QA)

1 Journal Entries Date Account and Explanation PR Debit Credit Jan 13 2023 Petty Cash 75 Cash 75 Explanation Established a petty cash fund of 75 on Ja... View the full answer