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Petty cash fund entries Instructions Journalize the entries to record the following: Required: a....

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Accounting

Petty cash fund entries
Instructions
Journalize the entries to record the following:
Required:
a. On March 1, check is issued to establish a petty cash fund of $1,050.*
b. On April 1, The amount of cash in the petty cash fund is now $106. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $603; miscellaneous selling expense, $183; miscellaneous administrative expense, $136. If the amount of the check to replenish the fund plus the balance in the fund do not equal $1,050, record the discrepancy in the cash-short and over account. **Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
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