Sunland Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Established the petty cash fund by writing a check payable to the petty cash custodian for $210.00. Replenished the petty cash fund by writing a check for $205.00. On this date, the fund consisted of $5.00 in cash and these petty cash receipts: freight-out $73.90, entertainment expense $36.80, postage expense $32.90, and miscellaneous expense $60.40. Aug. 15 Increased the amount of the petty cash fund to $400.00 by writing a check for $190.00. Replenished the petty cash fund by writing a check for $280.00. On this date, the fund consisted of $120 in cash and these petty cash receipts: postage expense $139.00, entertainment expense $95.00, and freight-out $45.00. 16 31
Sunland Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Established the petty cash fund by writing a check payable to the petty cash custodian for $210.00. Replenished the petty cash fund by writing a check for $205.00. On this date, the fund consisted of $5.00 in cash and these petty cash receipts: freight-out $73.90, entertainment expense $36.80, postage expense $32.90, and miscellaneous expense $60.40. Aug. 15 Increased the amount of the petty cash fund to $400.00 by writing a check for $190.00. Replenished the petty cash fund by writing a check for $280.00. On this date, the fund consisted of $120 in cash and these petty cash receipts: postage expense $139.00, entertainment expense $95.00, and freight-out $45.00. 16 31
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 1PB: On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare...
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