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Transactions for Petty Cash, Cash Short and Over
Wyoming Restoration Company completed the following selected transactions during July 20Y1:
| July 1. | Established a petty cash fund of $1,470. |
| 12. | The cash sales for the day, according to the cash register records, totaled $9,968. |
| | The actual cash received from cash sales was $10,001. |
| 31. | Petty cash on hand was $112. Replenished the petty cash fund for the following |
| | disbursements, each evidenced by a petty cash receipt: |
| | July 3. Store supplies, $162. |
| | July 7. Express charges on merchandise sold, $235 (Delivery Expense). |
| | July 9. Office supplies, $103. |
| | July 13. Office supplies, $118. |
| | July 19. Postage stamps, $123 (Office Supplies). |
| | July 21. Repair to fax, $294 (Miscellaneous Administrative Expense). |
| | July 21. Repair to office file cabinet lock, $103 (Miscellaneous Administrative Expense). |
| | July 22. Postage due on special delivery letter, $79 (Miscellaneous Administrative Expense). |
| | July 24. Express charges on merchandise sold, $118 (Delivery Expense). |
| | July 30. Office supplies, $40. |
| 31. | The cash sales for the day, according to the cash register records, totaled $17,066. |
| | The actual cash received from cash sales was $17,048. |
| 31. | Decreased the petty cash fund by $368. |
Required:
Journalize the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.
20Y1, July 1 July 12 1111 July 31-Replenish July 31-Sale July 31-Petty cash
Answer & Explanation
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