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Black Water Company Established a $75 Petty Cash Fund on August

Question 218

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Black Water Company established a $75 petty cash fund on August 1. On August 31, the fund had $10 cash remaining and petty cash receipts for postage $19, office supplies $20, and entertainment $26. Prepare the journal entries for August.

Correct Answer:

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\(\begin{array}{ll}\text { Aug. 1}&\text...

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