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ransactions for Petty Cash, Cash Short and Over
Cedar Springs Company completed the following selected transactions during June:
| June 1. | Established a petty cash fund of $1,160. |
| 12. | The cash sales for the day, according to the cash register records, totaled $10,678. |
| | The actual cash received from cash sales was $10,702. |
| 30. | Petty cash on hand was $88. Replenished the petty cash fund for the following |
| | disbursements, each evidenced by a petty cash receipt: |
| | June 2. Store supplies, $128. |
| | June 10. Express charges on merchandise purchased, $186 (Merchandise Inventory). |
| | June 14. Office supplies, $81. |
| | June 15. Office supplies, $93. |
| | June 18. Postage stamps, $97 (Office Supplies). |
| | June 20. Repair to fax, $232 (Miscellaneous Administrative Expense). |
| | June 21. Repair to office door lock, $81 (Miscellaneous Administrative Expense). |
| | June 22. Postage due on special delivery letter, $63 (Miscellaneous Administrative Expense). |
| | June 28. Express charges on merchandise purchased, $93 (Merchandise Inventory). |
| 30. | The cash sales for the day, according to the cash register records, totaled $24,299. |
| | The actual cash received from cash sales was $24,282. |
| 30. | Increased the petty cash fund by $290. |
Required:
Journalize the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.
| June 1 | Cash | | |
| | Merchandise Inventory | | |
| June 12 | | | |
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| June 30-Replenish | | | |
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| June 30-Sale | | | |
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| June 30-Petty cash | | | |
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Answer & Explanation
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