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

Question

Exercise 8-8 Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $105. During March, the following petty cash recelipts were found in the petty cash box. 3/s Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Miscelaneous Expense $32 The fund was replenished on March 1S when the fund contained $5 in cash. On March 20, the amount i ournalize the entries in March that pertain to the operation of the petty cash fund. (Credit n the fund was increased to $200. account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Mar. 15 SHOW LEST OF ACCOUNTS LINK TO TEXY MacBook Air

Explanation / Answer

Date General journal Debit Credit 1-Mar Petty Cash 105 Cash 105 15-Mar postage expensse 32 Freight out 13 miscellaneous expense 21 Travel expense 31 cash over and short 3 Cash. 100 20-Mar Petty cash 95 cash 95

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