Stephanie Jo Company established a petty cash fund of $300 on May 1.At the end of the month,the petty cash fund has $42 in cash and receipts for postage,$39; entertainment,$146; and office supplies of $70.
Prepare the needed journal entries,recording any discrepancy in the cash short and over account.

Question

​Stephanie Jo Company established a petty cash fund of $300 on May 1.At the end of the month,the petty cash fund has $42 in cash and receipts for postage,$39; entertainment,$146; and office supplies of $70.
Prepare the needed journal entries,recording any discrepancy in the cash short and over account.
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Quizplus · Accepted Answer

The Answer of ​Stephanie Jo Company established a petty cash fund of $300 on May 1.At the end of the month,the petty cash fund has $42 in cash and receipts for postage,$39; entertainment,$146; and office supplies of $70.
Prepare the needed journal entries,recording any discrepancy in the cash short and over account.
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​Stephanie Jo Company Established a Petty Cash Fund of $300

Stephanie Jo Company Established a Petty Cash Fund of $300