Halle’s Berry Farm establishes a $200 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $30 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Entertainment for office party (petty cash)$170 Lawn maintenance (credit card) 420 Postage (credit card) 575 Fuel for deliveries (credit card) 285 Required:Record the establishment of the petty cash fund on September 4.Record credit card expenditures during the month. The credit card balance is not yet paid.Record petty cash expenditures during the month THere should be a journal entry for the 4th, 30th and 30th

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College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

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Halle’s Berry Farm establishes a $200 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $30 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items:


Entertainment for office party (petty cash)	$	170
Lawn maintenance (credit card)		420
Postage (credit card)		575
Fuel for deliveries (credit card)		285

Required:

Record the establishment of the petty cash fund on September 4.
Record credit card expenditures during the month. The credit card balance is not yet paid.
Record petty cash expenditures during the month

THere should be a journal entry for the 4th, 30th and 30th

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