E8.8 (LO 2) Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box. Prepare joumal entries for a petty cash fund. Date Receipt No. For Amount 3/5 1 Stamp Inventory Freight-Out $39 7 2 9 3 21 Miscellaneous Expense Travel Expense 6 11 4 24 14 5 Miscellaneous Expense 5 The fund was replenished on March 15 when the fund contained $2 in cash. On March 20, the amount in the fund was increased to $175. Instructions Journalize the entries in March that pertain to the operation of the petty cash fund.
E8.8 (LO 2) Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box. Prepare joumal entries for a petty cash fund. Date Receipt No. For Amount 3/5 1 Stamp Inventory Freight-Out $39 7 2 9 3 21 Miscellaneous Expense Travel Expense 6 11 4 24 14 5 Miscellaneous Expense 5 The fund was replenished on March 15 when the fund contained $2 in cash. On March 20, the amount in the fund was increased to $175. Instructions Journalize the entries in March that pertain to the operation of the petty cash fund.
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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