Question 4 (20 points) On April 1, 2016, Alpha Company set up a petty cash fund

Question

Question 4 (20 points)

On April 1, 2016, Alpha Company set up a petty cash fund with a balance of $550. At the end of the month, the petty cash box contained vouchers of $85 for postage, $175 for supplies, $50 for gasoline, and cash on hand of $195. On April 30, 2016, the petty cash fund was replenished. Use this information to prepare the General Journal entries (without explanation) for April 1 and April 30 (compound entry). If no entry is required then write "No Entry Required."

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Explanation / Answer

1 April 16 Petty Cash A/c Dr. 550

To Cash A/c 550

30 April 16 Postage Exp A/c Dr. 85

Supplies A/c Dr. 175

Gasoline A/c Dr. 50

Sundry petty expenses Dr. 45

To Petty Cash A/c. 355

30 April 16. Petty Cash A/c Dr. 355

To Cash A/c. 355

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