Journalize the entries to record the following: Established a petty cash fund of

Question

Journalize the entries to record the following: Established a petty cash fund of $350. The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following receipts: office supplies, $116; postage, $100. Sept. 1 Record any discrepancy in the cash short and over account If an amount box does not require an entry, leave it blank or enter "o". Sept. 1 Cash Short and Over Sept. 30 Office Supplies Expense Petty Cash Postage Expense Rent Expense Previous Next All work saved Email Instructor Submit Test for Grading

Explanation / Answer

Solution:

Journalizing the Entries for the Following:

Date General Journal Debit Credit Sept 1 Petty Cash $350 Cash $350 Sept 30 Office Supplies $116 Postage Expense $100 Cash Short & Over $4 Cash $220

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