Solved

Prepare Journal Entries for the Following Petty Cash Fund Transactions $75\$ 75

Question 103

Essay

Prepare journal entries for the following petty cash fund transactions:
Nov. 1 Established a $75\$ 75 petty cash fund.
15 Increased the petty cash fund to have a new balance of $100\$ 100 .
30 Replenished the petty cash fund. Currency and coins remaining were $30\$ 30 .
Approved paid vouchers were: $10 donation expense; $16 postage expense; $30 office supplies expense; and $20 misc. expense.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents