Dian\'s Skinware Company established a 300 dollar petty cash found on May 1. In

Question

Dian's Skinware Company established a 300 dollar petty cash found on May 1. In may8, the fund shows 120 dollars along the receipts for the following expenditure: Office Supplies 40 Dollar Postage Dollar 50 Delievery 20 Dollars Misc Exp 70 Dollars. Bridal Company (retailer) applies the direct write-off method in accounting for uncollectible accounts. Prepare the journal entries to record its following transactions: May 1 Bridal Company determines that it cannot collet 400 dollars of its accounts receivable from a customer named Bell of the Ball Gowns..

Explanation / Answer

8.

9

Account title and explanation Debit Credit Petty Cash 300            To Cash 300 (Being Petty Cash fund Established) Office Supplies 40 Postage 50 Delivery 20 Misc. Exp 70            To Petty Cash                180 (Being expenses reimbursed) Petty Cash 280        To Cash 280 (Being petty Cash fund established)

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