Business, 19.03.2021 15:40, wilboisa000
Windsor, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April.
1. On April 1, it established a petty cash fund in the amount of $268.
2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows. Delivery charges paid on merchandise purchased $76 Supplies purchased and used 41 Postage expense 49 I. O.U. from employees 33 Miscellaneous expense 52 The petty cash fund was replenished on April 10. The balance in the fund was $8.
3. The petty cash fund balance was increased $116 to $384 on April 20.
Prepare the journal entries to record transactions related to petty cash for the month of April.
april 1
pety cash 342 (d)
cash 342 (c)
april 10
72 (d)
miscellaneous expense 48 (d)
postage expense 52 (d)
accounts recievable 29 (d)
petty cash ??
cash ??
Answers: 2
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Windsor, Inc. decided to establish a petty cash fund to help ensure internal control over its small...
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