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Prepare journal entries required to establish petty cash

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Question - On October 1, 2014 Ellington company establishes an imprest petty cash fund by issuing a check for 200 to Erin Angelo, The custodian of a petty cash fund. On October 31, 2014 Erin Angelo submitted the following paid a petty cash receipts for replenishment of the petty cash fund when there is $32 in the fund

Freight -in 28

Supplies expense 42

Entertainment of clients 65

Postage expense 30

Required - Prepare the journal entries required to establish the petty cash fund on October 1 and the replenishment of the fund on October 31?

Reference no: EM132623788

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