1.Prepare the journal entry to establish the petty cash fund.
2.Prepare a petty cash payments report for April with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense.
3.Prepare the journal entries for part 2 to both (a) reimburse and (b) increase the fund amount.
Stanley Marks had the following petty cash transactions in April of the current year.
Write a $300 check to establish a petty cash fund.
Purchased paper and other supplies for the office for $48.20 that is immediately used.
Paid $35.20 for coffee and muffins for a weekly meeting with the staff.
Paid $20.15 postage to courier a special order to a customer.
Reimbursed Susan Snow, the manager, $60 for travel expenses for her trip to see visit customers.
Paid the cleaning staff $100 for the month.
The fund had $36.45 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures.
The petty cash fund amount is increased by $100 to a total of $400.
QUALITY: 100% ORIGINAL – NO PLAGIARISM
(USA, AUS, UK & CA PhD. Writers)
CLICK HERE TO GET A PROFESSIONAL WRITER TO WORK ON THIS PAPER AND OTHER SIMILAR PAPERS
About Our Service
We are an online academic writing company that connects talented freelance writers with students in need of their services. Unlike other writing companies, our team is made up of native English speakers from countries such as the USA, UK, Canada, Australia, Ireland, and New Zealand.
- At ClassicWritersBay.com, most of our writers are degree-holding native speakers of English who are familiar with various writing styles. Our writers are proficient in many fields, including Economics, Business, Accounting, Finance, Medicine, Chemistry, Literature, Mathematics, Statistics, and many others.
- Making our customers happy is an important part of our service. So do not be surprised if you get your paper well before the deadline!
- We pay a lot of attention to ensuring that you get excellent customer service. You can contact our Customer Support Representatives 24/7. When you order from us, you can even track the progress of your paper as it is being written!
- We are attentive to the needs of our customers. Therefore, we follow all your instructions carefully so that you can get the best paper possible.
- It matters to us who writes for you, and we are serious about selecting the best candidates.
- Our writers are always learning something new, so they are familiar with the latest developments in the scientific world and can write papers with updated information and the latest findings.
- Quality original papers that follow your instructions carefully.
- On time delivery – you get the paper before the specified deadline.
- Attentive Customer Support Representatives available 24/7.
- Complete confidentiality – we do not share you details or papers with anybody else.