Question

Journalize the entries to record the following.

Answer 1

Answer:

Explanation:

The journal entries are shown below:

1. Petty cash A/c $1,100

       To Cash A/c $1, 100

(Being the petty cash fund is established)

2. Office supplies A/c Dr $614

   Miscellaneous selling expense A/c Dr $200

   Miscellaneous administrative expense A/c Dr $145

   Cash short and over A/c $26

             To Petty cash A/c $985

(Being the expenses are recorded)

The Cash short and over is computed below:

= $1,100 - $115- $614 - $200 - $145

= $26