https/ledugen weyphis.com/ebugen/t/manm Kimmel, Accounting,e Hele l Exercise 7-1

Question

https/ledugen weyphis.com/ebugen/t/manm Kimmel, Accounting,e Hele l Exercise 7-1 During October Cullumber Company Oct. 1 A petty cash fund is established with a check for $146.00 issued to the petty cash cus experiences the following transactions in estabäishing a petty cash fund 31 A check was written to reimburse the fund and increase the fund to $196.00. A count of the petty cash hund deused Currency 559.00 2.08 Expenditure receipts (vouchers) Supplies Telephone. Internet. and fax Postage Freight-Out 24 72 15.02 38.32 5.42 Journalize the entries in October that pertain to the petty cash fund (Round answers to 2 decimat places eg 52.7s indented wh en amount is entered, Do not indent manualy) Debit Credit Date Account Titles and Explanation

Explanation / Answer

JOURNAL ENTRIES Debit Credit Petty cash 146.00 Cash 146.00 Supplies 24.72 Miscellaneous expense 15.02 Postage expense 38.32 Freight-out 5.42 Cash over and short (146 - 24.72-15-38.32-5.42-59-2.08) 1.92 Petty cash (196 -146) 30.00 Cash 115.40

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