11. The following petty cash transactions of Lexite Laminated Surfaces occurred in August: Aug. 1...
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Accounting
11. The following petty cash transactions of Lexite Laminated Surfaces occurred in August:
Aug. 1 Established a petty cash fund with a $300 balance.
31 The petty cash fund has $29 in cash and $284 in petty cash tickets that were issued to pay for Office suppliers ($104) and Entertainment expense ($180). Replenished the fund with $271 of cash and recorded the expenses. Requirement
R1. Prepare journal entries without explanations
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