Prepare a petty cash payments report for february

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Reference no: EM13259045

Feb. 2 Wrote a $300 check, cashed it, and gave theproceeds and the petty cashbox to Reggie Gore the petty cashier.
5 Purchased bond paper for the copier for $14.55 that is immediatelyused.
9 Paid $32.50 COD shipping charges on merchandise purchased forresale, terms FOB shipping point Beard uses the perpetual system to account for merchandiseinventory.
12 Paid$7.85 postage to express mail a contract to a client
14 Reimbursed Jonny Carr, the manager, $66 for business mileage on hercar.
20 Purchasedstationery for $67.67 that is immediately used.
23 Paid acourier $23 to deliver merchandise sold to a customer, terms FOBdestination.
25 Paid $10.30 CODshipping charges on merchandise purchased for resale, termsFOB shipping point.
27 Paid $55 forpostage expense.
28 The fund had$20.82 remaining in the petty cash box. Sorted the petty cashreceipts by accounts affected and exchanged them for a check to reimburse thefund for expenditures.
28 The petty cashfund amount is increased by $100 to a total of $400.

a) Prepare the journal entry toestablish the petty cash fund.

b) Prepare a petty cash paymentsreport for February with these categories: delivery expense,milage expense,postage expense, merchandise inventory(for transportation-in), andoffice supplies expense. Sortthe payments into the appropriate categories and total theexpenditures in each category.

Reference no: EM13259045

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