Jeremiah Restoration Company completed the following selected transactions during January:Jan. 1.Established a petty cash fund of $745.12.The cash sales for the day, according to the cash register records, totaled $12,987. The actual cash received from cash sales was $13,011.31.Petty cash on hand was $154. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Jan. 3.Store supplies, $387.7.Express charges on merchandise sold, $34 (Delivery Expense).9.Office supplies, $15.13.Office supplies, $28.19.Postage stamps, $12 (Office Supplies).21.Repair to office file cabinet lock, $13 (Miscellaneous Administrative Expense).22.Postage due on special delivery letter, $25 (Miscellaneous Administrative Expense).24.Express charges on merchandise sold, $57 (Delivery Expense).30.Office supplies, $7. Jan. 31.The cash sales for the day, according to the cash register records, totaled $19,707. The actual cash received from cash sales was $19,669.31.Decreased the petty cash fund by $105. Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.CHART OF ACCOUNTSJeremiah Restoration CompanyGeneral Ledger ASSETS110Cash111Petty Cash120Accounts Receivable131Notes Receivable132Interest Receivable141Merchandise Inventory145Office Supplies146Store Supplies151Prepaid Insurance181Land191Office Equipment192Accumulated Depreciation-Office Equipment193Store Equipment194Accumulated Depreciation-Store Equipment LIABILITIES210Accounts Payable221Notes Payable222Interest Payable231Salaries Payable241Sales Tax Payable EQUITY310Owner, Capital311Owner, Drawing312Income Summary REVENUE410Sales610Interest Revenue EXPENSES510Cost of Merchandise Sold515Credit Card Expense516Cash Short and Over520Salaries Expense531Advertising Expense532Delivery Expense533Insurance Expense534Office Supplies Expense535Rent Expense536Repairs Expense537Selling Expenses538Store Supplies Expense561Depreciation Expense-Office Equipment562Depreciation Expense-Store Equipment591Miscellaneous Administrative Expense592Miscellaneous Selling Expense710Interest Expense Journal Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1 JOURNALACCOUNTING EQUATION DATEDESCRIPTIONPOST. REF.DEBITCREDITASSETSLIABILITIESEQUITY1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Answered: Journalize the transactions. Refer to…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 1PB: On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare...

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Question

Jeremiah Restoration Company completed the following selected transactions during January:

Jan. 1.	Established a petty cash fund of $745.
12.	The cash sales for the day, according to the cash register records, totaled $12,987. The actual cash received from cash sales was $13,011.
31.	Petty cash on hand was $154. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:

Jan. 3.	Store supplies, $387.
7.	Express charges on merchandise sold, $34 (Delivery Expense).
9.	Office supplies, $15.
13.	Office supplies, $28.
19.	Postage stamps, $12 (Office Supplies).
21.	Repair to office file cabinet lock, $13 (Miscellaneous Administrative Expense).
22.	Postage due on special delivery letter, $25 (Miscellaneous Administrative Expense).
24.	Express charges on merchandise sold, $57 (Delivery Expense).
30.	Office supplies, $7.

Jan. 31.	The cash sales for the day, according to the cash register records, totaled $19,707. The actual cash received from cash sales was $19,669.
31.	Decreased the petty cash fund by $105.

Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTS

Jeremiah Restoration Company

General Ledger

	ASSETS
110	Cash
111	Petty Cash
120	Accounts Receivable
131	Notes Receivable
132	Interest Receivable
141	Merchandise Inventory
145	Office Supplies
146	Store Supplies
151	Prepaid Insurance
181	Land
191	Office Equipment
192	Accumulated Depreciation-Office Equipment
193	Store Equipment
194	Accumulated Depreciation-Store Equipment

	LIABILITIES
210	Accounts Payable
221	Notes Payable
222	Interest Payable
231	Salaries Payable
241	Sales Tax Payable

	EQUITY
310	Owner, Capital
311	Owner, Drawing
312	Income Summary

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Merchandise Sold
515	Credit Card Expense
516	Cash Short and Over
520	Salaries Expense
531	Advertising Expense
532	Delivery Expense
533	Insurance Expense
534	Office Supplies Expense
535	Rent Expense
536	Repairs Expense
537	Selling Expenses
538	Store Supplies Expense
561	Depreciation Expense-Office Equipment
562	Depreciation Expense-Store Equipment
591	Miscellaneous Administrative Expense
592	Miscellaneous Selling Expense
710	Interest Expense

Journal

Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 1

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

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