СР 7-1 The following transactions were made by Landers Corp. in March 2019. Mar. 1 Established a petty cash fund of $200 12 Reimbursed the fund for the following: $10 Postage Office supplies 50 Maintenance 35 25 $120 18 Increased the fund by an additional $200 25 Reimbursed the fund for the following: $75 30 $105 28 Reduced the amount of the fund to $350. Meals (selling expenses) Office supplies Delivery charges Required: Prepare journal entries to record these transactions

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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СР 7-1
The following transactions were made by Landers Corp. in March 2019.
Mar. 1 Established a petty cash fund of $200
12 Reimbursed the fund for the following:
$10
Postage
Office supplies
50
Maintenance
35
Meals (selling expenses) 25
$120
18 Increased the fund by an additional $200
25 Reimbursed the fund for the following:
Office supplies
Delivery charges
$75
30
$105
28 Reduced the amount of the fund to $350.
Required: Prepare journal entries to record these transactions.
Transcribed Image Text:СР 7-1 The following transactions were made by Landers Corp. in March 2019. Mar. 1 Established a petty cash fund of $200 12 Reimbursed the fund for the following: $10 Postage Office supplies 50 Maintenance 35 Meals (selling expenses) 25 $120 18 Increased the fund by an additional $200 25 Reimbursed the fund for the following: Office supplies Delivery charges $75 30 $105 28 Reduced the amount of the fund to $350. Required: Prepare journal entries to record these transactions.
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