Wednesday, 14 October 2015

Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box.

Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box.

Date
Receipt No.
For
Amount
3/51Stamp Inventory$33
72Freight-Out15
93Miscellaneous Expense10
114Travel Expense26
145Miscellaneous Expense9

The fund was replenished on March 15 when the fund contained $5 in cash. On March 20, the amount in the fund was increased to $209.

Journalize the entries in March that pertain to the operation of the petty cash fund.
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3 comments:

  1. Because if you add 5 in cash to the fund, you get 100 of the cash that was recorded above.

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