1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No Entry Required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 3: Issued a check to establish a petty cash fund of $4,500. Description Debit Credit Feb. 26: Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1.680; miscellaneous selling expense, $570; miscellaneous administrative expense, $880. Description Debit Credit Apr. 14: Purchased $31.300 of merchandise on account, terms, n/30. The perpetual inventory system is used to account for inventory. Description Debit Credit May 13: Paid the invoice of April 14. Description Debit Credit May 17: Received cash from daily cash sales for $21,200. The amount indicated by the cash register was $21,240. Description Debit Credit
1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No Entry Required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 3: Issued a check to establish a petty cash fund of $4,500. Description Debit Credit Feb. 26: Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1.680; miscellaneous selling expense, $570; miscellaneous administrative expense, $880. Description Debit Credit Apr. 14: Purchased $31.300 of merchandise on account, terms, n/30. The perpetual inventory system is used to account for inventory. Description Debit Credit May 13: Paid the invoice of April 14. Description Debit Credit May 17: Received cash from daily cash sales for $21,200. The amount indicated by the cash register was $21,240. Description Debit Credit
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter9: Accounting For Purchases And Cash Payments
Section: Chapter Questions
Problem 4AP
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