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Marizza181 [45]
3 years ago
9

Havermill Co. establishes a $300 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

pts on that date represent $78 for Office Supplies, $147 for merchandise inventory, and $27 for miscellaneous expenses. The fund has a balance of $48. On October 1, the accountant determines that the fund should be increased by $60. The journal entry to record the establishment of the fund on September 1 is:
Business
1 answer:
AlekseyPX3 years ago
4 0

Answer and Explanation:

The journal entry to record the establishment as follows:

On Sep 1

Petty cash Dr $300

     To Cash  $300

(being the establishment of the fund is recorded)

Here the petty cash would be debited and cash would be credited so that the proper recording could be done

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brainly.com/question/26313265

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