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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

A petty cash fund established for $200 had the following cash payments during the month:

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Prepare the journal entry to replenish the petty cash fund at the end of the month.

To determine

Prepare the journal entry to record replenish the petty cash fund at the end of the month.

Explanation

Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage, office supplies, and lunches.

Prepare the journal entry to record replenish the petty cash fund at the end of the month.

DateAccount titles and ExplanationDebitCredit
 Phone expense$23.50 
 Automobile expense$49.10 
 H.A, Drawings$50.00 
      Cash $122...

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