Prepared a $500 cheque, cashed it, and turned the proceeds and the petty cash box over to Bob Stuart, the July petty cashier. Paid $46 COD charges on merchandise purchased for resale. Baby Photography uses the perpetual inventory method to account for merchandise inventory. 6. 11 Paid $26 delivery charges on merchandise sold to a customer. 12 Purchased file folders, $76 18 Purchased paper for printer, $27.
Prepared a $500 cheque, cashed it, and turned the proceeds and the petty cash box over to Bob Stuart, the July petty cashier. Paid $46 COD charges on merchandise purchased for resale. Baby Photography uses the perpetual inventory method to account for merchandise inventory. 6. 11 Paid $26 delivery charges on merchandise sold to a customer. 12 Purchased file folders, $76 18 Purchased paper for printer, $27.
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
Problem 2PA
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Question
1. Prepare a general journal entry to record establishing the petty cash fund.
2. Prepare a summary of petty cash payments.
3. Prepare the general journal entry to record the reimbursement and the decrease of the fund.
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