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SOVA2 [1]
3 years ago
13

The petty cash custodian reported the following transactions during the month. Prepare the journal entry to record the replenish

ment of the fund. A $13 cash payment is made to Starbucks to purchase coffee for a business client, a $46 cash payment is made for supplies purchased from Office Depot, and a $33 cash payment is made to UPS to deliver goods to a customer. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Business
1 answer:
SpyIntel [72]3 years ago
3 0

Answer:

Petty Cash Fund $92 (debit)

Cash $92 (credit)

Explanation:

Petty Cash Custodian is granted an amount of money for petty cash expenses at the beginning of the period.

The Petty Cash Accounts depletes the Petty Cash Custodian incurs expenses during the period

<u>The following journals shows show the Petty Cash Depletes</u>

Coffee - Starbucks $13 (debit)

Supplies - Office Depot $ 46 (debit)

UPS - Delivery Costs $ 33

Petty Cash (credit) $92

The Petty Cash depleted by $92 during the period. The Petty Cash account has to be replenished by this amount from the Cash Book

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