. Consider the cash account below.
Additional Information: cash disbursements were 80% of collections.
|
Cash |
|
|
?? |
Beg. Balance |
|
115,375 |
Collections |
|
?? |
Disbursements |
|
80,275 |
End Balance |
How much was the Beginning Balance of the Cash Account?
4. Journalize the entries to record the following:
Jun 1 Established a petty cash fund of $200
Jun 30 The amount of cash in the petty cash fund is now $57. The fund is replenished based on the following receipts: postage, $25; entertainment $100; miscellaneous $20.
Record any discrepancy in the cash short and over account.
Journal
|
Date |
Description |
Post Ref. |
Debit |
Credit |