Prepare the journal entries for the following petty cash transactions of Everly Gaming Supplies: Mar. 1 Established a petty cash fund with a $250 balance. The petty cash fund has $24 in cash and $235 in petty cash tickets that were issued to pay for Office Supplies ($35) and Entertainment Expense ($200). Replenished the fund and recorded the expenditures. Increased the balance of the petty cash fund to $300. 31 Apr. 15
Prepare the journal entries for the following petty cash transactions of Everly Gaming Supplies: Mar. 1 Established a petty cash fund with a $250 balance. The petty cash fund has $24 in cash and $235 in petty cash tickets that were issued to pay for Office Supplies ($35) and Entertainment Expense ($200). Replenished the fund and recorded the expenditures. Increased the balance of the petty cash fund to $300. 31 Apr. 15
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 4EB: Record the following transactions: A. Started a petty cash fund in the amount of $1,000. B....
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