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Wewaii [24]
2 years ago
6

Petty Cash Fund Entries Journalize the entries to record the following: Check is issued to establish a petty cash fund of $1,200

. The amount of cash in the petty cash fund is now $396. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $466; miscellaneous selling expense, $193; miscellaneous administrative expense, $121. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $1,200, record the discrepancy in the cash short and over account.) a. Journalize the entry to establish the petty cash fund. fill in the blank a41770059faa020_2 fill in the blank a41770059faa020_4 b. Journalize the entry to replenish the petty cash fund. For a compound transaction, if an amount box does not require an entry, leave it blank. fill in the blank e53a56fc003ffc3_2 fill in the blank e53a56fc003ffc3_3 fill in the blank e53a56fc003ffc3_5 fill in the blank e53a56fc003ffc3_6 fill in the blank e53a56fc003ffc3_8 fill in the blank e53a56fc003ffc3_9 fill in the blank e53a56fc003ffc3_11 fill in the blank e53a56fc003ffc3_12 fill in the blank e53a56fc003ffc3_14 fill in the blank e53a56fc003ffc3_15 Check My Work
Business
1 answer:
Andre45 [30]2 years ago
7 0

Answer:

Dr Petty cash fund 1,200

    Cr Cash 1,200

Dr Office supplies expenses 466

Dr Miscellaneous selling expenses 193

Dr Miscellaneous administrative expenses 121

Dr Cash short and over 24

    Cr Petty cash fund 804

Dr Petty cash fund 804

    Cr Cash 804

the balance in the petty cash fund is $1,2000 again

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                                      Debit                  Credit

Trade payable                 $300

Cash                                                           $300                              

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First we have to reverse the wrong journal entry which has been made by the inexperienced bookkeeper in the Adams Company accounts:

                                      Debit                  Credit

Trade payable                 $300

Cash                                                           $300                              

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