Concord 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 receipts were found in the petty cash box. Date Receipt No. For Amount 3/5 Stamp Inventory $39 7 2 Freight-Out 15 9. Miscellaneous Expense 15 11 4 Travel Expense 18 14 Miscellaneous Expense The fund was replenished on March 15 when the fund contained $6 in cash, On March 20, the amount in the fund was increased to $185. 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. Recore Date Account Titles and Explanation Debit Credit Mar. 1 v Petty Cash 105 Cash 105 Mar. 15 vPostage Expense 39 Freight-Out 15 Miscellaneous Expense 24 Travel Expense 18 Cash Over and Short Cash Mar. 20 vPetty Cash Cash Click if you would like to Show Work for this question: Open Show Work
Concord 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 receipts were found in the petty cash box. Date Receipt No. For Amount 3/5 Stamp Inventory $39 7 2 Freight-Out 15 9. Miscellaneous Expense 15 11 4 Travel Expense 18 14 Miscellaneous Expense The fund was replenished on March 15 when the fund contained $6 in cash, On March 20, the amount in the fund was increased to $185. 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. Recore Date Account Titles and Explanation Debit Credit Mar. 1 v Petty Cash 105 Cash 105 Mar. 15 vPostage Expense 39 Freight-Out 15 Miscellaneous Expense 24 Travel Expense 18 Cash Over and Short Cash Mar. 20 vPetty Cash Cash Click if you would like to Show Work for this question: Open Show Work
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 20E
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