Cheyenne Company established a petty cash fund on May 1, cashing a check for $115. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $3.45. Receipts: delivery expense $30.05, postage expense $36.45, and miscellaneous expense $42.90. July 1: Cash in fund $6.00. Receipts: delivery expense $21.75, entertainment expense $50.50, and miscellaneous expense $36.75. On July 10, Cheyenne increased the fund from $115 to $145. Prepare journal entries for Cheyenne Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, e.g. 52.75.)
Cheyenne Company established a petty cash fund on May 1, cashing a check for $115. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $3.45. Receipts: delivery expense $30.05, postage expense $36.45, and miscellaneous expense $42.90. July 1: Cash in fund $6.00. Receipts: delivery expense $21.75, entertainment expense $50.50, and miscellaneous expense $36.75. On July 10, Cheyenne increased the fund from $115 to $145. Prepare journal entries for Cheyenne Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, e.g. 52.75.)
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 2PA: On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare...
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Question
Cheyenne Company established a petty cash fund on May 1, cashing a check for $115. The company reimbursed the fund on June 1 and July 1 with the following results.
June 1: Cash in fund $3.45. | Receipts: delivery expense $30.05, postage expense $36.45, and miscellaneous expense $42.90. | |
July 1: Cash in fund $6.00. | Receipts: delivery expense $21.75, entertainment expense $50.50, and miscellaneous expense $36.75. |
On July 10, Cheyenne increased the fund from $115 to $145.
Prepare
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
---|---|---|---|
choose a transaction date May 1, June 1, July 1, July 10
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
choose a transaction date May 1, June 1, July 1, July 10
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
choose a transaction date May 1, June 1, July 1, July 10
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
choose a transaction date May 1, June 1, July 1, July 10 |
enter an account title
|
enter a debit amount
|
enter a credit amount
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
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