PLEASE HELP ME SOLVE THESE CASH AND INTERNAL CONTROLS PROBLEM.IT IS LOOKING FOR CASH OVERAGE/SHORTAGE...
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PLEASE HELP ME SOLVE THESE CASH AND INTERNAL CONTROLS PROBLEM.
IT IS LOOKING FOR CASH OVERAGE/SHORTAGE AND JOURNAL ENTRY
CoursHeroTranscribedText: Question 9 Take me to the text Not checked On February 1, 2019, Hip Street set up a petty cash fund for $250. At the end of the first week, the petty cash fund contains the following items. Marked out of 20.00 Cash on hand $75 Flag Receipt for the purchase of office supplies $32 question Receipt for the delivery charges $10 Receipt for the purchase of stamps $18 Receipt for travel to a client meeting $40 Receipt for the payment of newspaper advertising | $72 Required Do not enter dollar signs or commas in the input boxes. a) Calculate any cash overage or shortage. Cash is by $ b) Prepare the journal entries for setting up, and replenishing the petty cash fund. For transactions with more than one debit, enter the debit accounts in alphabetical order. Date Account Title and Explanation Debit Credit 2015 Feb Set up the petty cash fund Feb To replenish the petty cash fund
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