4. Robinson Legal Services, Inc. established a $220 petty cash fund. During the month, the fund was used to pay for the following expenditures: Petty Cash Ticket No. 1 2 3 4 Item Account Debited Delivery of programs to customers Delivery Expense Mail package Postage Expense Printing Expense Miscellaneous Expense Office Supplies DATE Newsletter Key to closet Copier paper ACCOUNT ACCOUNT (a) Record the journal entry to create the petty cash fund. (b) At month-end, the bookkeeper counted the cash in the petty cash box. There was $40. Record the journal entry (entries) needed at the end of the month to replenish the fund. (c) If the bookkeeper wanted to decrease the petty cash fund to $120, what journal entry would he record? DATE DEBIT Amount $ 20 10 DEBIT 25 40 70 CREDIT CREDIT
4. Robinson Legal Services, Inc. established a $220 petty cash fund. During the month, the fund was used to pay for the following expenditures: Petty Cash Ticket No. 1 2 3 4 Item Account Debited Delivery of programs to customers Delivery Expense Mail package Postage Expense Printing Expense Miscellaneous Expense Office Supplies DATE Newsletter Key to closet Copier paper ACCOUNT ACCOUNT (a) Record the journal entry to create the petty cash fund. (b) At month-end, the bookkeeper counted the cash in the petty cash box. There was $40. Record the journal entry (entries) needed at the end of the month to replenish the fund. (c) If the bookkeeper wanted to decrease the petty cash fund to $120, what journal entry would he record? DATE DEBIT Amount $ 20 10 DEBIT 25 40 70 CREDIT CREDIT
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 4AP
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning