Calculator Journal Instructions A. On July 1, check No. 12-375 is issued to esta

Question

Calculator Journal Instructions A. On July 1, check No. 12-375 is issued to establish a petty cash fund of $1,125 B. The amount of cash in the petty cash tund is now $130. Check No. 12-476 is issued to replenish the tund based on the following summary of petty cash receipts: office supplies, $846; miscellaneous selling expense administrative expense, $149. (Because the amount of the check to repienish the fund plus the balance in the fund do not equal $1,125, record the discrepancy in the cash short and over account)

Explanation / Answer

Journal entry

date

explanation

debit

credit

1-Jul

petty cash

1125

cash

1125

31-Jul

office supplies

646

miscellaneous selling expense

184

miscellaneous administrative expense

149

cash short and over

16

petty cash

995

31-Jul

petty cash

995

cash

995

Journal entry

date

explanation

debit

credit

1-Jul

petty cash

1125

cash

1125

31-Jul

office supplies

646

miscellaneous selling expense

184

miscellaneous administrative expense

149

cash short and over

16

petty cash

995

31-Jul

petty cash

995

cash

995

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