i need assistance with the four red box please thank you ...

80.2K

Verified Solution

Question

Accounting

i need assistance with the four red box please thank you image
image
Metlock, 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 $254. 2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10 , when the balance in petty cash was $12, is as follows. The company uses a periodic inventory system. 3. The petty cash fund balance was increased $112 to $366 on April 20 . Prepare the journal entries to record transactions related to petty cash for the month of April. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit occount titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Prepare the journal entries to record transactions related to petty cash for the month of April. (If no entry is required, select "No Entry" for the occount titles and enter O for the amounts, Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students