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bagirrra123 [75]
3 years ago
6

Based on the following petty cash information, prepare

Business
1 answer:
vovangra [49]3 years ago
8 0

Answer:

a. Date  Description            Debit     Credit

Jan 1         Petty cash             $200

                     Cash                               $200    

                (Establishment of petty cash fund)

b. Date  Description                      Debit       Credit

Jan 31      Phone Expense            $17.50

               Automobile Expense        $33

               Joseph Levine, Drawing   $54

               Postage Expense              $12.50

               C. Contributions Expense $15

               Miscellaneous Expense    $49

                       Petty cash                                  $181

               (Replenishment of petty cash fund)

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