Journalize the entries to record the following (refer to the Chart of Accounts f
ID: 2584473 • Letter: J
Question
Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles):
On April 1, the amount of cash in the petty cash fund is now $100. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $529; miscellaneous selling expense, $210; miscellaneous administrative expense, $163. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $
Instructions A. On March 1, Check is issued to establish a petty cash fund of $1,035. .On April 1, the amount of cash in the petty cash fund is now $100. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $529; miscellaneous selling expense, $210; miscellaneous administrative expense, $163. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $
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Date
Accounts title and explanation
Debit
Credit
Mar-01
Petty Cash
1035
Cash
1035
Being establishment of Petty cash fund
Apr-01
Office Supplies
529
Miscellaneous Selling Expenses
210
Miscellaneous Administrative Expenses
163
Cash short and over (935-529-210-163)
33
Cash(1035-100)
935
Being replenishment of funds
Date
Accounts title and explanation
Debit
Credit
Mar-01
Petty Cash
1035
Cash
1035
Being establishment of Petty cash fund
Apr-01
Office Supplies
529
Miscellaneous Selling Expenses
210
Miscellaneous Administrative Expenses
163
Cash short and over (935-529-210-163)
33
Cash(1035-100)
935
Being replenishment of funds
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