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