Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on october 1, 2015, ellington company establishes

On October 1, 2015, Ellington Company establishes an imprest petty cash fund by issuing a...

80.2K

Verified Solution

Question

Accounting

On October 1, 2015, Ellington Company establishes an imprest petty cash fund by issuing a check for $200 to Erin Angelo, the custodian of the petty cash fund. On October 31, 2015, Erin Angelo submitted the following paid petty cash receipts for replenishment of the petty cash fund when there is $32 cash in the fund:

Freight-in $28
Supplies Expense 42
Entertainment of Clients 65
Postage Expense 30

Prepare the journal entries required to establish the petty cash fund on October 1 and the replenishment of the fund on October 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

image

Prepare the journal entries required to establish the petty cash fund on October 1 and the replenishment of the fund on October 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit To establish a petty cash fund) Oct. 31 (To record expenses for October and to replenish the petty cash fund)

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

Chemistry
1.2K views

For the reaction: Fructose 6-phosphate to glucose 6-phosphate, delta G is -0.4 kcla/mol. Starting with a...

Biology
1.2K views

Which of the following is NOT a criterion for classifying viruses? a)Type of organism the virus infects b)...

Advance Math
1.2K views

this is Discrete mathematics problem. Translate the following English sentences into propositional formulas. Remember to def ne your...

Accounting
1.2K views

4. Process Costing – Equivalent units of production, Weighted Average Method (7pts): The Lost Moon of...

Physics
1.2K views

A 10 0 cm tall object is placed 6 00 cm in front of a...

Calculus
1.2K views

Following is a graph showing the temperature P t in C one chilly day at...

Calculus
1.2K views

The conjugate of 2 + 3i isO3+2i2/312-3iO-2-3i

Calculus
1.2K views

Determine the limit lim x 9 x 19 9 Oo Odne O 18 Question 8...

Accounting
1.2K views

Manny, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. In...

Accounting
1.2K views

[The following information applies to the questians displayed below.] Trey Monson starts a...

Accounting
1.2K views

1. The characteristic of limited liability enables corporations to A. exist even when owners die....

Accounting
1.2K views

the inventory observation substantive procedure is a vital procedure. identify at least 5 procedures the...