On August 3,Sonar Sales decides to establish a $275.00 Petty Cash Account to relieve the burden on Accounting.

(a)Journalize the establishment of this fund.
(b)On August 11,the petty cash fund has receipts for mail and postage of $124.75,contributions and donations
of $53.25,meals and entertainment of $63.85,and $32.75 in cash.Journalize the replenishment of the fund.
(c)On August 12,Sonar Sales decides to increase petty cash to $400.00.Journalize this transaction.

Question

On August 3,Sonar Sales decides to establish a $275.00 Petty Cash Account to relieve the burden on Accounting.
​
(a)Journalize the establishment of this fund.
​(b)On August 11,the petty cash fund has receipts for mail and postage of $124.75,contributions and donations
of $53.25,meals and entertainment of $63.85,and $32.75 in cash.Journalize the replenishment of the fund.
(c)On August 12,Sonar Sales decides to increase petty cash to $400.00.Journalize this transaction.

Quizplus · Accepted Answer

The Answer of On August 3,Sonar Sales decides to establish a $275.00 Petty Cash Account to relieve the burden on Accounting.
​
(a)Journalize the establishment of this fund.
​(b)On August 11,the petty cash fund has receipts for mail and postage of $124.75,contributions and donations
of $53.25,meals and entertainment of $63.85,and $32.75 in cash.Journalize the replenishment of the fund.
(c)On August 12,Sonar Sales decides to increase petty cash to $400.00.Journalize this transaction.

On August 3,Sonar Sales Decides to Establish a $275