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Unformatted text preview: P830A
1. Imprest fund is a way to internally control the balance of a petty cash fund for a responsible member of a company. It has a final cash amount with receipts of expenses that are used throughout the month. It is replenished at the end of the month with the same, more, or less value.
2. On April 30th the petty cash fund had an $87.00 balance. This is the beginning fund of $400.00 the expenses of $313.00.
3A. April 01. Petty Cash $400.00 Cash 400.00
To open the petty cash fund
3B. 30. Supply Expense 86.00 Travel Expense 25.00 Delivery Expense 37.00 Entertainment Expense 80.00 Inventory 85.00 Cash 310.00 Cash Short and Over 3.00
To replenish the petty cash fund
4. May 01. Petty Cash $100.00 Cash 100.00
To increase the petty cash fund ...
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This note was uploaded on 06/13/2011 for the course ACC 205 taught by Professor Robertcarr during the Spring '10 term at Ashford University.
- Spring '10