A company establishes a $300 petty cash fund on August 3 to pay for minor cash expenditures. The fund is replenished at the end of each month. In addition, the company has issued credit cards for more substantial employee purchases. These credit cards are issued to authorized managers. At the end of August, the following employee purchases have been made: Petty Cash Fund Delivery fees Plumbing maintenance Postage Flowers for the office View transaction list 1 Journal entry worksheet $ 100 70 40 50 $ 260 2 Required: Record the establishment of the petty cash fund on August 3, employee expenditures related to the petty cash fund on August 31, and employee expenditures related to credit cards on August 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3 Credit Cards Equipment Advertising Supplies $1,400 750 360 $2,510 >

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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TB EX Qu. 4-188 (Static) A company establishes...
A company establishes a $300 petty cash fund on August 3 to pay for minor cash expenditures. The fund is replenished at the end of
each month. In addition, the company has issued credit cards for more substantial employee purchases. These credit cards are issued
to authorized managers. At the end of August, the following employee purchases have been made:
Petty Cash Fund
Delivery fees
Plumbing maintenance
Postage
Flowers for the office
View transaction list
1
Journal entry worksheet
$ 100
70
40
50
$ 260
2
Required:
Record the establishment of the petty cash fund on August 3, employee expenditures related to the petty cash fund on August 31, and
employee expenditures related credit cards on August 31. (If no entry is required for a transaction/event, select "No Journal Entry
Required" in the first account field.)
3
Credit Cards
Equipment
Advertising
Supplies
$1,400
750
360
$2,510
Transcribed Image Text:TB EX Qu. 4-188 (Static) A company establishes... A company establishes a $300 petty cash fund on August 3 to pay for minor cash expenditures. The fund is replenished at the end of each month. In addition, the company has issued credit cards for more substantial employee purchases. These credit cards are issued to authorized managers. At the end of August, the following employee purchases have been made: Petty Cash Fund Delivery fees Plumbing maintenance Postage Flowers for the office View transaction list 1 Journal entry worksheet $ 100 70 40 50 $ 260 2 Required: Record the establishment of the petty cash fund on August 3, employee expenditures related to the petty cash fund on August 31, and employee expenditures related credit cards on August 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 3 Credit Cards Equipment Advertising Supplies $1,400 750 360 $2,510
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