Question

JOLLTEL LLICS. P 7-10B (L03) Replenishment: G. Cash, $87 PETTY CASH RECORD AND JOURNAL ENTRIES On July 1, a petty cash fy was established for $100. The following vouchers were issued during July: Amount 5 Foovuw Date Voucher No. Purpose July 1 office supplies $ 3.00 donation (Goodwill) 15.00 travel expenses 5.00 postage due 2.00 office supplies 4.00 postage due 3.50 phone call 5.00 21 travel expenses 11.00 25 withdrawal by owner (L. Ortiz) 20.00 copier repair (miscellaneous) 18.50 REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the vouchers in the petty cash record. Total and rule the petty cash recor 3. Prepare the journal entry to replenish the petty cash fund. Make the appropria entry in the petty cash record. 26

Answer 1

On establishing petty Cash Credit Bebit Pethy cash Cash 100 $100 offe Supplies Petty cash t3 3 donati o petty cash ¢15 5 STrauel Expenes pethy cash Postage dua petty cash offi a Supplies pethy cesh $Y Pastage due petty cash Phone ca petty cash #3.5 $3.5 B5 $5 Trauel Expenes pethy cath 1) FA

Dradings od capital Petty tash 20 20 26 Ripairs to opier pety 18.5 8.5 Cash Total Expenes made $87 $13 $100- $81 Pety Couth Balan le Cah eplinis h pety Cash eqund $100-13 Petty Ca cash Canhy eplinishmet of pethy cas