Question

Concord, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April 1. On April 1. It established a petty cash fund in the amount of $266. 2. A summary of the petty cash ogenditures made by the petty cash custodian as of April 10 is as follows. Delivery charges paid on merchandise purchased $74 Supplies purchased and used Postage expense Lou from employees Miscellaneous expense The petty cash fund was replenished on April 10. The balance in the fund was $14. 3. The petty cash fund balance was increased 5114 to $380 on April 20. Prepare the journal entries to record transactions related to petty cash for the month of April. Of no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles on automatically indented when the amount is entered. Do not inders manually) Date Account Titles and Explanation Debit Credit April 10

Answer 1

Ansuer Date Accounts Title Debit Credit Aprit $166 Petty cash 266 To cash April lo Deliveny charges Seipplies Expense 39 Postaage Expense 47 J-O.U. fvom employces 31 miscellaneouy expense cash over and short CElp) $a52 To cash (266-14) April ao Petty cash To cash ーXニ Thanls