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problem: Golden's Spa decided to establish & maintain a petty cash fund of $800 in April. During the month the following happened.

April 1. The fund was established with 800 dollar.

[A] Create the journal entry to establish the petty cash fund.

At the end of April, the fund had $28 in it. The petty cash custodian presented receipts for

Postage, 235 dollar

Shipping, [Freight-out], $133

Meals for after-hour meetings [Various Expense], $316

Coffee Service (Workplace Expense), $78

[B] The custodian requested reimbursement of 772 dollar. Create the journal entry to replenish the fund.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M920053

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