Momentum Company maintains a petty cash fund for small expenditures. The fund was established on March 1 with a balance of $200. During March the following petty cash receipts were found in the petty cash box. Date 3/5 8 Date 3/1 The fund was replenished on March 15 when the fund contained $83 in cash. On March 20, the amount in the fund was increased to $300. 3/5 Required: Journalize the petty cash transactions on the following dates. Write "no entry" if no entry is required. 3/8 Receipt No. 1 2 3/15 For Postage Stamp Freight-Out 3/20 Amount $78 42 Debit Credit
Momentum Company maintains a petty cash fund for small expenditures. The fund was established on March 1 with a balance of $200. During March the following petty cash receipts were found in the petty cash box. Date 3/5 8 Date 3/1 The fund was replenished on March 15 when the fund contained $83 in cash. On March 20, the amount in the fund was increased to $300. 3/5 Required: Journalize the petty cash transactions on the following dates. Write "no entry" if no entry is required. 3/8 Receipt No. 1 2 3/15 For Postage Stamp Freight-Out 3/20 Amount $78 42 Debit Credit
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 6SEB
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