Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when thefund balance reached $7, the petty cash custodian prepared a petty cash report that summarizedreceipts for postage ($140) and printing ($54). Complete the necessary journal entry by selecting theaccount names and dollar amounts from the drop-down menus.View transaction listJournal entry worksheet1Recall on February 1, Derrick Company established a $200 petty cash fund. OnFebruary 15, when the fund balance reached $7, the petty cash custodianprepared a petty cash report that summarized receipts for postage ($140) andprinting ($54). Complete the necessary journal entry by selecting the accountnames and dollar amounts from the drop-down monurNote: Enter debits before credits.DateFeb. 15General JournalDebitCredit

Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…

Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage ($140) and printing ($54). Complete the necessary journal entry by selecting the account

Recall on February 1, Derrick Company established a $200 petty cash fund. On February 15, when the fund balance reached $7, the petty cash custodian prepared a petty cash report that summarized receipts for postage ($140) and printing ($54). Complete the necessary journal entry by selecting the account

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 10SPB

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