Present entries to record the following transactions:
a) Established a petty cash fund of $235.00.
b) The petty cash fund now has a balance of $42.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies, $74.50; miscellaneous administrative expense, $92.75; and miscellaneous selling expense, $18.60.
c) Increased the petty cash fund to $300.00.

Question

Quizplus · Accepted Answer

The Answer of Present entries to record the following transactions:
a) Established a petty cash fund of $235.00.
b) The petty cash fund now has a balance of $42.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies, $74.50; miscellaneous administrative expense, $92.75; and miscellaneous selling expense, $18.60.
c) Increased the petty cash fund to $300.00.

Present Entries to Record the Following Transactions