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Waupaca Company establishes a $480 petty cash fund on September 9. On September 30, the...

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Accounting

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Waupaca Company establishes a $480 petty cash fund on September 9. On September 30, the fund shows $204 in cash along with receipts for the following expenditures: transportation-in, $58; postage expenses, $56; and miscellaneous expenses, $153. The petty cashier could not account for a $9 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $510 View transaction list Journal entry worksheet 2 Prepare the journal entry to establish the Petty Cash fund Note: Enter debits before credits. Date General Journal Debit Credit Sep 09

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