EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $312 in cash along with receipts for the following expenditures: transportation-in, $120; postage expenses, $369; and miscellaneous expenses, $240. The petty cashier could not account for a $9 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund, and (3) June 1 entry to increase the fund to $1,200.
Answers: 3
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Business, 22.06.2019 18:00, Aethis
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Answers: 3
EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $312 in cash along...
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