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Help 8 A company establishes a petty cash fund on August 3 for $490. The fund...


Help 8 A company establishes a petty cash fund on August 3 for $490. The fund is replenished at the end of each month. The co
Help 8 A company establishes a petty cash fund on August 3 for $490. The fund is replenished at the end of each month. The company has also issued a credit card for its office manager to make more substantial purchases. At the end of August, the following purchases have been made: $1,700 10 points Petty Cash Fund Delivery fees Plumbing maintenance Postage Flowers for the office Credit Card Equipment Advertising Supplies $125 76 41 53 $295 850 470 02:06:59 $3,020 Record the establishment of the petty cash fund on August 3. On August 31, record the petty cash expenditures during the month and the employee credit card expenditures during the month. Note: the credit card balance will not be paid until the following month (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 > Record the establishment of the petty cash fund. Note: Enter debits before credits General Journal Debit Credit Dale August 03
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Answer #1
Date Account title and explanation Debit Credit
1 Aug 3 Petty cash $ 490
Cash $ 490
[To open the petty cash fund]
2 Aug 31 Delivery fees $ 125
Plumbing maintenance $ 76
Postage $ 41
Flowers for the office $ 53
Cash $ 295
[To replenish the petty cash fund]
3 Aug 31 Equipment $ 1,700
Advertising $ 850
Supplies $ 470
Accounts Payable $ 3,020
[To record the credit card expenses]
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