Ernest Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $200. During March the following petty cash receipts were found in the petty cash box. Date 3/5 7 9 11 Receipt No. 1 2 3 4 For Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Amount $74 42 22 49 The fund was replenished on March 15 when the fund contained $9 in cash. On March 20, the amount in the fund was increased to $300.
Ernest Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $200. During March the following petty cash receipts were found in the petty cash box. Date 3/5 7 9 11 Receipt No. 1 2 3 4 For Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Amount $74 42 22 49 The fund was replenished on March 15 when the fund contained $9 in cash. On March 20, the amount in the fund was increased to $300.
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 6E
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