a. Make the journal entry to establish a petty cash fund for $80. b. Assume...

80.2K

Verified Solution

Question

Accounting

image
a. Make the journal entry to establish a petty cash fund for $80. b. Assume that $55 from petty cash was used to pay for office supplies and $22 was used of pay for stamps. Make the journal entry to reimburse petty cash. c. Assume the actual cash remaining in petty cash was $9. Make the journal entry to reimburse petty cash d. Assume the actual cash remaining in petty cash was $1. Make the journal entry to reimburse petty cash. e. Make the journal entry to reduce petty cash to $50

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