Zealous Company established a petty cash fund. 1. Established a petty cash fund of P10,000 on...

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Zealous Company established a petty cash fund. 1. Established a petty cash fund of P10,000 on January 2 2. Petty cash expenses - January 2-31 are: Postage Supplies Transportation Miscellaneous expense 1,500 5,500 1.200 800 3. The fund is replenished on February 1 and increased by P5.000. Required: Prepare journal entries to record the transactions under the fluctuating fund system and imprest fund system. Problem 1-6 (ACP) Zenith Company provided the following chronological transactions in relation to petty cash: 1. The entity established a petty cash fund of P10,000. 2. Petty cash disbursements were: Postage Supplies 3. Petty cash disbursements were: Transportation Accounts payable 1,500 3,000 1,000 3.500 4. Issued check for an amount to replenish the fund and bring the balance of the petty cash to P20,000. Required: Prepare journal entries to record the transactions under fluctuating fund system and imprest fund system. Zealous Company established a petty cash fund. 1. Established a petty cash fund of P10,000 on January 2 2. Petty cash expenses - January 2-31 are: Postage Supplies Transportation Miscellaneous expense 1,500 5,500 1.200 800 3. The fund is replenished on February 1 and increased by P5.000. Required: Prepare journal entries to record the transactions under the fluctuating fund system and imprest fund system. Problem 1-6 (ACP) Zenith Company provided the following chronological transactions in relation to petty cash: 1. The entity established a petty cash fund of P10,000. 2. Petty cash disbursements were: Postage Supplies 3. Petty cash disbursements were: Transportation Accounts payable 1,500 3,000 1,000 3.500 4. Issued check for an amount to replenish the fund and bring the balance of the petty cash to P20,000. Required: Prepare journal entries to record the transactions under fluctuating fund system and imprest fund system.

Answer rating: 100% (QA)

Fluctuating Fund System Jan 2 2022 Petty Cash Fund 10000 Cash 1... View the full answer