Cedar Springs Company completed the following selected transactions during June:

Question

Cedar Springs Company completed the following selected transactions during June:

Required:

Journalize the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

June 1. Established a petty cash fund of $410. 12. The cash sales for the day, according to the cash register records, totaled $8,828. The actual cash received from cash sales was $8,865. 30. Petty cash on hand was $31. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June   2. Store supplies, $45. June 10. Express charges on merchandise purchased, $66 (Merchandise Inventory). June 14. Office supplies, $29. June 15. Office supplies, $33. June 18. Postage stamps, $34 (Office Supplies). June 20. Repair to fax, $82 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $29 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery letter, $22 (Miscellaneous Administrative Expense). June 28. Express charges on merchandise purchased, $33 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $23,604. The actual cash received from cash sales was $23,568. 30. Increased the petty cash fund by $103.

Explanation / Answer

Jun-01 Petty cash $        410 Cash $        410 Jun-12 Cash $    8,865 cash sales $    8,828 Cash short and over $          37 Jun-30 Store supplies $          45 Merchandise inventory $          99 Office supplies $          96 Misc. administrative expense $        133 Cash short and over $            6 Cash $        379 Jun-30 Cash $ 23,568 Cash short and over $          36 cash sales $ 23,604 Jun-30 Petty cash $        103 cash $        103

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