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Q1) Petty cash fund was originally established with check for $150. In the petty cash fund on December 31 (the period-end), you determine the following:

 Petty cash receipts:  Postage............................................. $44.5
  Office supplies..................................... 50.85
  Office equipment repair......................... 48
  Cash.................................................. 4.25

Create general journal entry to record replenishment of petty cash fund on December 31. Be sure you put  complete account description. If I have to guess what kind of account you put down, it will be marked incorrect.

 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921838

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