Wyoming Restoration Company completed the following selected transactions during July 20Y1:July 1.Established a petty cash fund of $1,200.12.The cash sales for the day, according to the cash register records, totaled $8,356. The actual cash received from cash sales was $8,389.31.Petty cash on hand was $217. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:July 3.Store supplies, $510.7.Express charges on merchandise sold, $90 (Delivery Expense).9.Office supplies, $30.13.Office supplies, $35.19.Postage stamps, $50 (Office Supplies).21.Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).22.Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).24.Express charges on merchandise sold, $135 (Delivery Expense).30.Office supplies, $25.July 31.The cash sales for the day, according to the cash register records, totaled $10,289. The actual cash received from cash sales was $10,275.31.Decreased the petty cash fund by $100. Required: Journalize the transactions.

The journal entries are prepared to record the transactions on regular basis. The petty cash fund is…

Answered: Wyoming Restoration Company completed…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 2PA: On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare...

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Wyoming Restoration Company completed the following selected transactions during July 20Y1:

July 1.	Established a petty cash fund of $1,200.
12.	The cash sales for the day, according to the cash register records, totaled $8,356. The actual cash received from cash sales was $8,389.
31.	Petty cash on hand was $217. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:

July 3.	Store supplies, $510.
7.	Express charges on merchandise sold, $90 (Delivery Expense).
9.	Office supplies, $30.
13.	Office supplies, $35.
19.	Postage stamps, $50 (Office Supplies).
21.	Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).
22.	Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).
24.	Express charges on merchandise sold, $135 (Delivery Expense).
30.	Office supplies, $25.

July 31.	The cash sales for the day, according to the cash register records, totaled $10,289. The actual cash received from cash sales was $10,275.
31.	Decreased the petty cash fund by $100.

	Required:
	Journalize the transactions.

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