Solution-Prepare the oct entry to establish the fund

Prepare the oct entry to establish the fund

Reference no: EM133052763

Question - Robin's Nest, a builder of birdhouses, decided on Oct 31, 2021 to establish a petty cash fund of $400. The following receipts were found in the cash can on November 30, along with $65 cash:

Nov 2 Purchased office supplies for $70

Nov 5 Purchased doughnuts and coffee for a meeting for $17

Nov 7 Paid courier charges of $30 to deliver merchandise across town to a customer

Nov 10 Paid courier charges of $65 to receive inventory from a supplier

Nov 14 Gave Robin Crowe, the owner, $50 for gas to attend an out-of-town meeting

Nov 20 Reimbursed Alan Finch, the manager, $105 for office expenses

Required - Prepare the Oct 31 entry to establish the fund, as well as the Nov 30 entry to replenish the fund.

Reference no: EM133052763

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Prepare the oct entry to establish the fund

Reference no: EM133052763

Reference no: EM133052763

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