Prepare the entry to replenish the $200 petty cash fund of Kruger Company, assuming the fund...
Prepare the entry to replenish the $200 petty cash fund of Kruger Company, assuming the fund has receipts for: freight-out $60, postage $105, and miscellaneous expense $20. The fund contains $8 in cash
Homework Answers
Journal
|
Date |
Account Title and Explanation |
Debit |
Credit |
| freight-out | 60 | ||
| Postage | 105 | ||
| Miscellaneous expense | 20 | ||
| Cash short and over | 7 | ||
| Cash | 192 | ||
| (To replenish petty cash) |
Cash short and over = Petty cash, beginning - freight-out - Postage - Miscellaneous expense - Petty cash, ending
= 200 - 60 - 105 - 20 - 8
= $7
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