EX 8-24 Petty cash fund entriesOBJ. 6Journalize the entries to record the following:Check is issued to establish a petty cash fund of $1,290.b. The amount of cash in the petty cash fund is now $303. Check is issued to replenishthe fund, based on the following summary of petty cash receipts: office supplies, $427;miscellaneous selling expense, $365; miscellaneous administrative expense, $165. Ifthe amount of the check to replenish the fund plus the balance in the fund do notequal $1,290, record the discrepancy in the cash short and over account. OBJ. 6EX 8-24 Petty cash fund entriesJournalize the entries to record the following:a. Check is issued to establish a petty cash fund of $1,290.b. The amount of cash in the petty cash fund is now $303. Check is issued to replenishthe fund, based on the following summary of petty cash receipts: office supplies, $427;miscellaneous selling expense, $365; miscellaneous administrative expense, $165. Ifthe amount of the check to replenish the fund plus the balance in the fund do notequal $1,290, record the discrepancy in the cash short and over account.EX 8-25 Variation i

These are the accounting transactions that are having a monetary impact on the financial statement…

Answered: do not equal $1,290

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Internal Control And Cash

Section: Chapter Questions

Problem 7.24EX

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EX 8-24 Petty cash fund entries OBJ. 6 Journalize the entries to record the following: Check is issued to establish a petty cash fund of $1,290. b. The amount of cash in the petty cash fund is now $303. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $427; miscellaneous selling expense, $365; miscellaneous administrative expense, $165. If the amount of the check to replenish the fund plus the balance in the fund do not equal $1,290, record the discrepancy in the cash short and over account.

OBJ. 6
EX 8-24 Petty cash fund entries
Journalize the entries to record the following:
a. Check is issued to establish a petty cash fund of $1,290.
b. The amount of cash in the petty cash fund is now $303. Check is issued to replenish
the fund, based on the following summary of petty cash receipts: office supplies, $427;
miscellaneous selling expense, $365; miscellaneous administrative expense, $165. If
the amount of the check to replenish the fund plus the balance in the fund do not
equal $1,290, record the discrepancy in the cash short and over account.
EX 8-25 Variation i

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