Question

Problem 4-61A (Algorithmic) Recording Petty Cash Transactions SC Inc. had a balance of $400 in cash in its petty cash fund at the beginning of September. The following transactions took place in September a. On September 4, the custodian paid $43 out of petty cash for new stationery on which the company president's name appeared prominently. This is considered supplies expense b. On September 11, the custodian paid $81 out of petty cash for maintenance manuals for the firm's new jet aircraft. This is a maintenance expense c. On September 15, the custodian paid $33 out of petty cash for transportation-in. d. On September 23, the custodian paid $46 out of petty cash to have documents delivered to the lawyers who were defending the firm in a lawsuit. This is considered an other expense. On September 27, the custodian paid $119 out of petty cash to reimburse the president for costs he had incurred when bad weather prevented the company jet from landing to pick him up after a meeting. This is a travel expense. 1. on September 30, the custodian submitted receipts for the above expenditures and a check was drawn for the amount to replenish the fund. Required: Prepare the journal entries made by the corporation to record these transactions. If no entry is required, select "No entry required for all accounts and leave associated amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. 3. September 4 b. September 11 September 15 .

Answer 1

a	September 4	No entry required
		No entry required
b	September 11	No entry required
		No entry required
c	September 15	No entry required
		No entry required
d	September 23	No entry required
		No entry required
e	September 27	No entry required
		No entry required
f	September 30	Supplies Expense	43
		Maintenance Expense	81
		Transportation-In	33
		Other Expenses	46
		Travel Expense	119
		Cash		322

Note for understanding:

Petty cash expenses are recorded in the books only when the relevant receipts are submitted & the check are drawn.