Exercise 7-8 Horvath Company uses an imprest petty cash system. The fund was est

Question

Exercise 7-8 Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box Date Receipt No For Amount $39 21 3/5 Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense 4 24 14 The fund was replenished on March 15 when the fund contained $2 in cash. On March 20, the amount in the fund was increased to 175 Journalize the entries in March that pertain to the operation of the petty cash fund. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Mar. 15 SHOW LIST OF ACCOUNTS

Explanation / Answer

1-Mar Petty Cash 100       Cash 100 Mar. 15 Postage Expense 39 Freight-Out 21 Miscellaneous expense 11 Travel Expense 24 Cash Over and short 3       Cash 98 20-Mar Petty Cash 75       Cash 75

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.