Nakashima Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $340 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Addison, the petty cashier. 5 Purchased bond paper for the copier for $16.55 that is immediately used. 9 Paid $44.50 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. Nakashima uses the perpetual system to account for merchandise inventory. 12 Paid $8.75 postage to express mail a contract to a client. 14 Reimbursed Adina Sharon, the manager, $74 for business mileage on her car. 20 Purchased stationery for $68.77 that is immediately used. 23 Paid a courier $23 to deliver merchandise sold to a customer, terms FOB destination. 25 Paid $11.10 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. 27 Paid $51 for postage expenses. 28 The fund had $22.81 remaining in the petty cash box. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. 28 The petty cash fund amount is increased by $70 to a total of $410. Prepare the journal entries for part 2 to both (a) reimburse and (b) increase the fund amount. (Round your answers to 2 decimal places.)

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter9: Accounting For Purchases And Cash Payments

Section9.4: Accounting For Cash Payments

Problem 5AYU

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Nakashima Gallery had the following petty cash transactions in February of the current year.

Feb.	2	Wrote a $340 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Addison, the petty cashier.
	5	Purchased bond paper for the copier for $16.55 that is immediately used.
	9	Paid $44.50 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. Nakashima uses the perpetual system to account for merchandise inventory.
	12	Paid $8.75 postage to express mail a contract to a client.
	14	Reimbursed Adina Sharon, the manager, $74 for business mileage on her car.
	20	Purchased stationery for $68.77 that is immediately used.
	23	Paid a courier $23 to deliver merchandise sold to a customer, terms FOB destination.
	25	Paid $11.10 COD shipping charges on merchandise purchased for resale, terms FOB shipping point.
	27	Paid $51 for postage expenses.
	28	The fund had $22.81 remaining in the petty cash box. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures.
	28	The petty cash fund amount is increased by $70 to a total of $410.

Prepare the journal entries for part 2 to both (a) reimburse and (b) increase the fund amount. (Round your answers to 2 decimal places.)

Record the reimbursement of the petty cash fund.
Record the increase of the petty cash fund.

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Journal entry worksheet
of 3
2.
Record the reimbursement of the petty cash fund.
k
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
ces
Feb 28
Record entry
Clear entry
View general journal
イ
身

Required information
Journal entry worksheet
1
Record the increase of the petty cash fund.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Feb 28
Clear entry
View general journal
Record entry
2.

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