i need assistance with the four red box please thank you ...
80.2K
Verified Solution
Link Copied!
Question
Accounting
i need assistance with the four red box please thank you
Metlock, Inc, decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April 1, it established a petty cash fund in the amount of $254. 2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10 , when the balance in petty cash was $12, is as follows. The company uses a periodic inventory system. 3. The petty cash fund balance was increased $112 to $366 on April 20 . Prepare the journal entries to record transactions related to petty cash for the month of April. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit occount titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Prepare the journal entries to record transactions related to petty cash for the month of April. (If no entry is required, select "No Entry" for the occount titles and enter O for the amounts, Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem)
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: Zin AI - Your personal assistant for all your inquiries!