Reference no: EM132326499

Question : Petty Cash Fund

Prepare journal entries for each of the following. For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Issued a check to establish a petty cash fund of $850.

AP, AR, Cash, Cash short and over, Miscellaneous selling expense, Petty cash, Store supplies. I $ I

AP, AR, Cash, Cash short and over, Miscellaneous selling expense, Petty cash, Store supplies. I $ I

b. The amount of cash in the petty cash fund is $270. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $341 and miscellaneous selling expense, $215. Record any missing funds in the cash short and over account. For a compound transaction, if an amount box does not require an entry, leave it blank.

AP, AR, Cash, Notes receivavle, Petty cash, Store supplies. I $ I I$ I

AP, AR, Cash, Notes receivavle, Petty cash, Store supplies. I $ I I$ I

AP, AR, Cash, Cash short and over, Notes Receivable, Petty cash. I $ I I$ I

AP, Cash, Cash short and over, Miscellaneous selling expense, Petty cash, Store supplies.I $ I I$ I