On January 1, Percy’s Weir Inc. established a petty cash fund of $50. Date Account Titles and Explanations Debit Credit

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answerhappygod
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On January 1, Percy’s Weir Inc. established a petty cash fund of $50. Date Account Titles and Explanations Debit Credit

Post by answerhappygod »

On January 1, Percy’s Weir Inc. established a petty cash fund of
$50.
Date
Account Titles and Explanations
Debit
Credit
Delivery expense
$28
Miscellaneous expense
10
Office expense
9
Total
$47
Prepare the journal entry to replenish the petty cash fund:
Date
Account Titles and Explanations
Debit
Credit
(c) On February 1, the petty cashier
decided to increase the amount of the petty cash in the fund from
$50 to $150. A cheque of $100 was issued. Record the
transaction:
Date
Account Titles and Explanations
Debit
Credit
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