D5. On January 2, 20X1, The Blue Legal Clinic issued Check 2108 for $260 to establish a petty cash fund. Indicate how this transactionwould be recorded in a general journal.View transaction listJournal entry worksheet1Record the entry for Check 2108 issued for $260 to establish a petty cashfund.Note: Enter debits before credits.DateJan. 2, 20X1General JournalDebitCredit

A journal entry is like a diary of a company's financial transactions. It records every…

Answered: On January 2, 20X1, The Blue Legal…

On January 2, 20X1, The Blue Legal Clinic issued Check 2108 for $260 to establish a petty cash fund. Indicate how this transaction would be recorded in a general journal. View transaction list

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 7.4BE

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

D5.

On January 2, 20X1, The Blue Legal Clinic issued Check 2108 for $260 to establish a petty cash fund. Indicate how this transaction
would be recorded in a general journal.
View transaction list
Journal entry worksheet
1
Record the entry for Check 2108 issued for $260 to establish a petty cash
fund.
Note: Enter debits before credits.
Date
Jan. 2, 20X1
General Journal
Debit
Credit

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