1. The petty cash fund of the Brooks Agency is established at $230. At the...
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Accounting
1. The petty cash fund of the Brooks Agency is established at $230. At the end of the current period, the fund contained $155 and had the following receipts: entertainment, $41; postage, $17; and printing, $17. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period.
2. Identify the two events from the following that cause a Petty Cash account to be credited in a journal entry. (Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)
Fund amount is being reduced.unanswered
Fund amount is being increased.unanswered
Fund is being eliminated.unanswered
Fund is being established.
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