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Recording the establishment of a petty cash refund. the public legal clinic issued check 2108 for $500 to establish a petty cash refund.

Recording the establishment of a petty cash refund. the public legal clinic issued check 2108 for $500 to establish a petty cash refund. record it in cash payment journal

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Account Debit Credit Petty cash 500 cash 500 ... View the full answer

11 comments
  • i do not understand this chart so for debit it is 500 and for the date us jan 2. that all i understand from this chart
    • tskpop
    • Apr 03, 2018 at 1:34pm
  • The journal entry to record the transaction is: Petty cash debit 500 and cash credit 500
    • roli_accfin
    • Apr 03, 2018 at 1:37pm
  • When recording in the cash payment journal. Petty cash account is the account that will be debited. $500 will be recorded as cash credit and $500 as debit for petty cash
    • roli_accfin
    • Apr 03, 2018 at 1:38pm
  • Hope it is clear, still if you have any confusion let me know
    • roli_accfin
    • Apr 03, 2018 at 1:39pm
  • where would i put the issued check number 2108?
    • tskpop
    • Apr 03, 2018 at 1:42pm
  • A column of check number needs to be made before the mention of the account. Please mention the check number there
    • roli_accfin
    • Apr 03, 2018 at 1:45pm
  • Date : Account title : Chck no : PR : Debit Credit : AP Debit : Petty cash Debit : Cash Credit
    • roli_accfin
    • Apr 03, 2018 at 1:48pm
  • ok so for the date i have jan2 then i have petty cash account then the check number2108 cast credit 500 and depit 500
    • tskpop
    • Apr 03, 2018 at 2:40pm
  • yes
    • roli_accfin
    • Apr 03, 2018 at 7:45pm
  • ok thank you
    • tskpop
    • Apr 03, 2018 at 7:45pm
  • Welcome :)
    • roli_accfin
    • Apr 03, 2018 at 8:05pm

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