You have new items in your feed. Click to view.
Question and answer
On March 20, Terrell's petty cash fund of $100 is replenished when the fund contains $7 in cash and receipts for postage $52, freight-out $26, and travel expense $10. Prepare the journal entry to
record the replenishment of the petty cash fund. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.) Date Description/Account Debit Credit Mar. 20 Postage expensePetty cashCash over and shortCashFreight-outTravel expense Postage expenseCashPetty cashCash over and shortFreight-outTravel expense CashPostage expenseTravel expenseCash over and shortPetty cashFreight-out Petty cashFreight-outPostage expenseCashCash over and shortTravel expense Freight-outPostage expenseTravel expensePetty cashCashCash over and short Click here if you would like to Show Work for this question
The 1st thing to do in such questions is to see if the cash in hand and the receipts total $100. In this case, they total only $95 (7+52+26+10), so there's a cash shortage of $5. [ [ You'll need to use an account called "Cash over and short" or something similar. Dr Postage $52 Dr Freight out $26 Dr Travel expense $10 Dr Cash over and short $5 Cr Cash $93 You have $7 in cash and after the
above reimbursement, your fund will be back to $100. ] ]
Expert answered|armageddon|Points 298|
Question
Asked 3/7/2013 5:43:38 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
26,602,529 questions answered
Popular Conversations
To form the comparative degree of adverbs, you should add which of ...
Weegy: Mikhail Gorbachev is responsible for glasnost, which called for openness and self-criticism in Soviet affairs. ...
12/9/2016 8:33:19 AM| 2 Answers
If you visit the Senate chamber during a session on an average day, ...
Weegy: Teamwork is a joint action by two or more people or a group, [ in which each person contributes with different ...
12/9/2016 10:52:15 AM| 2 Answers
Weegy Stuff
S
P
Points 178 [Total 450] Ratings 1 Comments 168 Invitations 0 Offline
S
P
Points 93 [Total 525] Ratings 0 Comments 93 Invitations 0 Offline
S
Points 58 [Total 58] Ratings 0 Comments 58 Invitations 0 Offline
S
P
P
Points 51 [Total 730] Ratings 0 Comments 51 Invitations 0 Offline
S
Points 42 [Total 318] Ratings 1 Comments 32 Invitations 0 Offline
S
Points 11 [Total 11] Ratings 1 Comments 1 Invitations 0 Offline
S
Points 8 [Total 8] Ratings 0 Comments 8 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.