History Bookmarks People Window Help 3? 00 Julissa https://edugen.wileyplus.com/

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History Bookmarks People Window Help 3? 00 Julissa https://edugen.wileyplus.com/edugen/student/mainfr.uni Kimmei, accounting, be Practice Gradebook ORION Downloadable eTextbook signment CALCULATOR Pu SCRttN PRINTER VERS ON ·BACK ES Exercise 7-16 (Part Level Submission) wildhorse Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August Aug. 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $222.00 15 Replenished the petty cash fund by writing a check for $186.00. On this date, the fund consisted of $36.00 in cash and these petty cash receipts: freight-out $63.40, entertainment expense $25.00, postage expense $22.70 and miscellaneous expense $71.90 16 Increased the amount of the petty cash fund to $422.00 by writing a check for $200.00. 31 Replenished the petty cash fund by writing a check for $294.00. On this date, the fund consisted of $128.00 in cash and these petty cash receipts: postage expense $134.00, entertainment expense $123.60, and freight-out $35.40 Y (a) 2 Your answer is partially correct. Try again Journalize the petty cash transactions. ( Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually,) Debit Credit Date Account Titles and Explanation Petty Cash Aug. 15 Freight Out

Explanation / Answer

SOLUTION

Date Account titles and Explanation Debit ($) Credit ($) Aug.1 Petty Cash 222 Cash 222 Aug. 15 Freight-Out 63.40 Entertainment Expense 25.00 Postage Expense 22.70 Miscellaneous 71.90 Cash Over/Short 3.00 Cash 186.00 Aug. 16 Petty Cash 200 Cash 200 Aug. 31 Postage Expense 134.00 Entertainment Expense 123.60 Freight-Out 35.40 Cash Over/Short 1.00 Cash 294.00

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