T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $500. By the
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Question:
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a cash balance of $397. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items:
Utilities (credit card) | $ | 135 | |
Entertainment (petty cash) | 44 | ||
Stamps (petty cash) | 59 | ||
Plumbing repair services (credit card) | 230 | ||
Required:
- Record the establishment of the petty cash fund on April 3.
- Record credit card expenditures during the month. The credit card balance is paid in full on April 30.
- Record petty cash expenditures during the month.
(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Journal entry worksheet
- Record the establishment of the petty cash fund on April 3.
Note: Enter debits before credits.
|
Journal entry worksheet
- Record credit card expenditures during the month. The credit card balance is paid in full on April 30.
Note: Enter debits before credits.
|
Journal entry worksheet
- Record petty cash expenditures during the month.
Note: Enter debits before credits.
|
Related Book For
Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
Posted Date: