You have $$3,000$ in your checking account and $$10,000$ in your savings account at the end of September. You

average the amount of your expenses which must be paid each month and find that this average is $$3,500.$ If

you lost your job, your cash source, at the end of September, how many months of cash do you have until you

need to find a new cash source, a new job? $\_\_\_\_\_\_\_\_\_\_$

Supplies

Freight$-$Out

Miscellaneous Expense

Supplies

Miscellaneous Expense

$3)$ On November $16,$ the company decided the Petty Cash needed to be able to last longer before

replenishment is needed, so it was decided to increase the petty cash total to $$500.$

Account Name Debit Credit

What is a voucher system and why is it such a good internal control over Cash??

Since the voucher system is good internal control but it could take days to cut a check, Lincolnville Company

uses a petty cash system to handle small cash payments which need to be paid within a short period of time.

$2)$ The following receipts were found in the petty cash box on March $15$ when there was $$40$ of Cash remaining

in the box. The Petty Cash was replenished.