The petty cash fund of western glass company contained the, Ask an Expert

Accounting

The petty cash fund of Western Glass Company contained the following items on November 30, 2009:

Currency and coin 23

Reciepts for following expenditures:

Delivery Charges 42

Office supplies 50

Resturant receipt for entertaining a customer 110

An IOU from an employee 25

Total $250

The petty cash fund was established on November 1, 2009, with a transfer of $250 from cash to the petty cash account.

Required:

Prepare the journal entries to establish the petty cash account and to replenish the fund at the end of November.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9430945

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