Sohar Aluminium Company established a petty cash fund of RO 5,700 on January 1st. Assume that on January 21, Sohar Aluminium petty cash custodian requests a check for RO4,120. The fund contains RO 1500 cash and petty cash receipts for cleaning RO1,700, Product delivery RO 1,350, and Petrol expenses RO1,070. The general journal entry to record the checking transaction is:
Sohar Aluminium Company established a petty cash fund of RO 5,700 on January 1st. Assume that on January 21, Sohar Aluminium petty cash custodian requests a check for RO4,120. The fund contains RO 1500 cash and petty cash receipts for cleaning RO1,700, Product delivery RO 1,350, and Petrol expenses RO1,070. The general journal entry to record the checking transaction is:
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 4EA: Record the following transactions: A. Started a petty cash fund in the amount of $500. B....
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