Description
Just fill in the attached journal entry and petty cash by analyzing the given transaction information
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Explanation & Answer
Attached.
Petty Cash
El Greco Art Gallery had the following petty cash transactions in February of the current y
April
3
Wrote a $350 check, cashed it, and gave the proceeds and the petty cashbox to
Chloe Addison, the petty cashier.
7
Purchased bond paper for the copier for $15.75 that is immediately used.
11
13
Paid $40.50 COD shipping charges on
merchandise
purchased
for resale,
Paid $7.15 postage
to express
mail terms
a contract to a client.
15
Reimbursed Adina Sharon, the manager, $73 for business mileage on her car.
21
Purchased stationery for $68.77 that is immediately used.
24
Paid a courier $21 to deliver merchandise sold to a customer, terms FOB
destination.
27
Paid $11.60 COD shipping charges on merchandise purchased for resale, terms
FOB shipping point.
29
Paid $56 for postage expenses.
29
The fund had $23.87 remaining in the petty cash box. Sorted the petty cash
receipts by accounts affected and exchanged them for a check to reimburse the
fu...