Express charges on merchandise sold

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Reference no: EM13522408

Transactions for petty cash, cash short and over

Picasso Restoration Company completed the following selected transactions during

August 2012:

Aug. 1. Established a petty cash fund of $750.

10. The cash sales for the day, according to the cash register records, totaled $9,780. The actual cash received from cash sales was $9,800.

31. Petty cash on hand was $240. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:

Aug. 3. Store supplies, $251.

7. Express charges on merchandise sold, $60 (Delivery Expense).

9. Office supplies, $20.

13. Office supplies, $30.

19. Postage stamps, $11 (Office Supplies).

21. Repair to office file cabinet lock, $40 (Miscellaneous Administrative Expense).

Aug. 22. Postage due on special delivery letter, $18 (Miscellaneous Administrative Expense).

24. Express charges on merchandise sold, $50 (Delivery Expense).

30. Office supplies, $15.

31. The cash sales for the day, according to the cash register records, totaled

$11,200. The actual cash received from cash sales was $11,130.

31. Decreased the petty cash fund by $100.

Instructions

Journalize the transactions.

Reference no: EM13522408

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