Sheffield Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $105. During March, the following petty cash receipts were found in the petty cash box. Date Receipt No. For Amount 3/5 1. Stamp Inventory $34 7 Freight-Out 17 9 3 Miscellaneous Expense 13 11 4 Travel Expense 26 14 5 Miscellaneous Expense 9 The fund was replenished on March 15 when the fund contained $4 in cash. On March 20, the amount in the fund was increased to $190. Journalize the entries in March that pertain to the operation of the petty cash fund. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journa Date Account Titles and Explanation Debit Credit Mar. 1 vPetty Cash 105 Cash 105 Mar. 15 vPostage Expense 34 Freight-Out 17 Miscellaneous Expense Trav Expense Cash Over and Short Cash Mar. 20 v Petty Cash Cash
Sheffield Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $105. During March, the following petty cash receipts were found in the petty cash box. Date Receipt No. For Amount 3/5 1. Stamp Inventory $34 7 Freight-Out 17 9 3 Miscellaneous Expense 13 11 4 Travel Expense 26 14 5 Miscellaneous Expense 9 The fund was replenished on March 15 when the fund contained $4 in cash. On March 20, the amount in the fund was increased to $190. Journalize the entries in March that pertain to the operation of the petty cash fund. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journa Date Account Titles and Explanation Debit Credit Mar. 1 vPetty Cash 105 Cash 105 Mar. 15 vPostage Expense 34 Freight-Out 17 Miscellaneous Expense Trav Expense Cash Over and Short Cash Mar. 20 v Petty Cash Cash
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 20E
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