Instructions
A. On March 1, Check is issued to establish a petty cash fund of $1,050.
B. On April 1, the amount of cash in the petty cash fund is now $106. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $603; miscellaneous selling expense, $183; miscellaneous administrative expense, $136. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $1,050, record the discrepancy in the cash short and over account.)

Respuesta :

Answer:

March 1, 202x, petty cash fund established

Dr Petty cash fund 1,050

    Cr Cash 1,050

April 1, 202x, petty cash expenses

Dr Supplies expense 603

Dr Miscellaneous selling expense 183

Dr Miscellaneous administrative expense 136

Dr Cash short and over 22

    Cr Petty cash 944

April 1, 202x, petty cash fund is replenished

Dr Petty cash 944

    Cr Cash 944