Instructions Journalize the entries to record the following (refer to the Chart of Accounts for...

60.1K

Verified Solution

Question

Accounting

image
image
Instructions Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles Instructions A. On March 1, Check is issued to establish a petty cash fund of $1,175. B. On April 1, the amount of cash in the petty cash fund is now $110. Check is issued to replenish the lund, based on the following summary of petty cash receipts: office supplies, $665; miscellaneous selling expense, $211; miscellaneous administrative expense, $178. (Because the amount of the check foreplenish the fund plus the balance in the fund do not equal $1,175, record the discrepancy in the cash short and over account.) Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash REVENUE 410 Sales 610 Interest Revenue Check My Work 2 more Check My Work uses remaining

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