Question

Prepare a general journal entry to establish, replenish, and raise the petty cash level from the following: i (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from journal entries.) Prepare a general journal entry to establish the petty cash fund at $200. Journal Entry Account Titles Date PR Debit Credit Transactions Nov Prepare a journal entry to replenish the petty cash fund. On November 1, 2017, a $200 Petty Cash Fund was established. At the end of the month Petty Cash had a balance of $40 plus the following paid vouchers: Donations Expense $35, Postage Expense $40; Office Supplies Expense $35; and Miscellaneous Expenses of $50. On November 30 replenishment of Petty Cash was complete On December 2 it was decided that the level of Petty Cash was too low, and thus it was raised to a new level of $230. Journal Entry Account Titles PR Debit Credit Date Nov. 30 Print Done Prepare a general journal entry to raise the petty cash to $230. Journal Entry Account Titles Date PR Debit Credit Dec. 2 Choose from any list or enter any number in the input fields and then continue to the next question

Answer 1

		JOURNAL ENTRY
DATE	ACCOUNT TITLES		DEBIT	CREDIT
NOV. 1	Petty Cash		200
	Cash			200
	(being Petty cash Fund established with 200)
NOV. 30	Donation EXP.		35
	Postage EXP.		40
	Office Supplies Exp.		35
	Miscellaneous Exp.		50
	Petty Cash			160
	(being replenishment of petty cash fund )
Dec. 2	Petty Cash		190
	Cash			190
	(Being petty cash fund raised to 230 by adding 190)