A company established a $400 petty cash fund by issuing a check to the custodian on October 1.On October 15,the petty cash fund was replenished and increased to $1,000 in total.The contents of the petty cash fund at the time of the October 15 replenishment were:
The company uses a perpetual inventory system.Prepare the general journal entry to record both the reimbursement and the increase of the petty cash fund on October 15.

Question

A company established a $400 petty cash fund by issuing a check to the custodian on October 1.On October 15,the petty cash fund was replenished and increased to $1,000 in total.The contents of the petty cash fund at the time of the October 15 replenishment were:
  The company uses a perpetual inventory system.Prepare the general journal entry to record both the reimbursement and the increase of the petty cash fund on October 15.

Quizplus · Accepted Answer

The Answer of A company established a $400 petty cash fund by issuing a check to the custodian on October 1.On October 15,the petty cash fund was replenished and increased to $1,000 in total.The contents of the petty cash fund at the time of the October 15 replenishment were:
  The company uses a perpetual inventory system.Prepare the general journal entry to record both the reimbursement and the increase of the petty cash fund on October 15.

A Company Established a $400 Petty Cash Fund by Issuing