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Question: Cash & Internal Controls
On November 1, Adele Co. established an imprest petty cash fund with a balance of $200. That entry has already been journalized and the relevant amount posted to the General Ledger Cash and Petty Cash accounts.
On November 30, Adele reimburses the Petty Cash account. On November 30, the petty cash fund contains $33 of cash and vouchers for:
Repair of equipment - $105
Meals and entertainment - $37
Purchase of supplies - $28
Prepare the General Journal entry to replenish the Petty Cash fund. Post any relevant amounts to the Cash and Petty Cash General Ledger accounts. Remember to use the Date and PR columns in both the General Journal and the General Ledger. (You only have enough information to fill out the PR column in the General Journal for the Cash and Petty Cash accounts).
General Journal
Date
Account Titles and Explanation
PR
Debit
Credit
2015
11/01
Petty Cash
110
200
Cash
100
Partial General Ledger
ACCT
Explanation
Balance
10,000
Establish Petty Cash Fund
G1
9,800
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