50.1K

Verified Solution

Question

Accounting

image
image
image
Question 5 of 9 0.94/1 Your answer is partially correct. Record the journal entry on September 30 to replenish the fund and decrease the balance to $150. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts: Date Account Titles and Explanation Debit Credit Sept 30 Merchandise Inventory PA Freight Out Suroties Cash Owrand Short 11 Petty Cash 51 Cash 149 e Textbook and Media List of Accounts Attempts: 2 of 3 used Submit Save for later 22C Weather alert 9 o il Oriole Buttons uses a petty cash imprest system. The fund was established on September 4 with a balance of $200.On September 30, there were $51 cash and the following petty cash receipts in the petty cash box Date Receipt No. 1 Amount Sept. 5 1 $26 9 N 12 14 3 For Freight in (assume perpetual inventory system) Delivery charges on outgoing freight Freight in Supplies Delivery charges on outgoing freight Freight in 29 16 4 9 20 5 21 29 6 41 Your answer is correct. Record the journal entry on September 4 to establish the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation 200 Sept. 4 Petty Cash 200 Cash o Record the journal entry on September 30 to replenish the fund and decrease the balance to $150. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Sept. 30 Merchandise Inventory 96 Freight Out 33 Supplies 9 Cash Over and Short 11 Petty Cash 51 Cash 149

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