73-B-A-C-R_(497) - SOLUTION GENERAL JOURNAL DATE...

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Based on the following petty cash information, prepare (a) The journal entry to establish a petty cash fund, and (b) The journal entry to replenish the petty cash fund. On January 1, 20--, a check was written in the amount of $200.00 to establish a petty cash fund. During January, the following vouchers were written for cash removed from the petty cash drawer: .:.
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Unformatted text preview: SOLUTION: GENERAL JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 20--Jan. 1 Petty Cash 2 0 0 00 Cash 2 0 0 00 Establish petty cash fund 31 Telephone Expense 1 7 50 Automobile Expense 3 3 00 Joseph Levine, Drawing 7 0 00 Postage Expense 1 2 50 Charitable Contributions Expense 1 5 00 Miscellaneous Expense 4 9 00 Cash 1 9 7 00 Replenish petty cash fund...
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