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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 48
Journalizing cash payments and recording petty cash transactions.
The Asian Tales Gift Shop, a retail business, started a $250 petty cash fund on September 4. Below are descriptions of the transactions to establish the petty cash fund, disburse petty cash during September, and replenish the petty cash fund on September 30:
INSTRUCTIONS
1. Record the transaction on September 4 to establish the petty cash fund in a general journal. Use 7 as the page number.
2. Record all transactions on a petty cash analysis sheet. Use 1 as the page number.
3. Record the transaction on September 4 to replenish the petty cash fund in the general journal.
Analyze: What is the balance of the Petty Cash Fund on September 30, after replenishment?
The Asian Tales Gift Shop, a retail business, started a $250 petty cash fund on September 4. Below are descriptions of the transactions to establish the petty cash fund, disburse petty cash during September, and replenish the petty cash fund on September 30:
INSTRUCTIONS
1. Record the transaction on September 4 to establish the petty cash fund in a general journal. Use 7 as the page number.
2. Record all transactions on a petty cash analysis sheet. Use 1 as the page number.
3. Record the transaction on September 4 to replenish the petty cash fund in the general journal.
Analyze: What is the balance of the Petty Cash Fund on September 30, after replenishment?
Explanation
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Journalizing cash payments and recording...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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