Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund of $1,290. 12. The cash sales for the day, according to the cash register records, totaled $13,686. The actual cash received from cash sales was $13,703. 30. Petty cash on hand was $98. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $142. June 10. Express charges on merchandise purchased, $206 (Merchandise Inventory). June 14. Office supplies, $90. June 15. Office supplies, $103. June 18. Postage stamps, $108 (Office Supplies). June 20. Repair to fax, $258 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $90 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery letter, $70 (Miscellaneous Administrative Expense). June 28. Express charges on merchandise purchased, $103 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $21,779. The actual cash received from cash sales was $21,736. 30. Increased the petty cash fund by $323. Required: Journalize the transactions. If an amount box does not require an entry, leave it blank. June 1 June 12 June 30-Replenish June 30-Sale June 30-Petty cash
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund of $1,290. 12. The cash sales for the day, according to the cash register records, totaled $13,686. The actual cash received from cash sales was $13,703. 30. Petty cash on hand was $98. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $142. June 10. Express charges on merchandise purchased, $206 (Merchandise Inventory). June 14. Office supplies, $90. June 15. Office supplies, $103. June 18. Postage stamps, $108 (Office Supplies). June 20. Repair to fax, $258 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $90 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery letter, $70 (Miscellaneous Administrative Expense). June 28. Express charges on merchandise purchased, $103 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $21,779. The actual cash received from cash sales was $21,736. 30. Increased the petty cash fund by $323. Required: Journalize the transactions. If an amount box does not require an entry, leave it blank. June 1 June 12 June 30-Replenish June 30-Sale June 30-Petty cash
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 1PA: On September 1, French company has decided to initiate a petty cash fund in the amount of $800....
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