Yenidee
Sep 4, 2013, 04:04 AM
On July 1, 2013, Nap Lusterio Tours established an imprest petty cash fund. The following transactions took place during July:
July 1 Issued check against ABN-AMRO Savings bank account to establish the petty cash fund, P3,000.
July 15 replenished the fund by check against the ABN-AMRO Savings Bank account for P2,510. The following bills and receipts are on hand:
Freight on cash on delivery purchases P650
Postage 500
Computer Repair 900
Merienda for client 460
Total 2510
July 31 Replenished the fund and increased it to 4,000 by writing a check against the ABN-AMRO Savings Bank account. On this date, the fund contained P290 in currency and coins. Bills and reciepts on hand were for postage, P560; office supplies expense, P710; charitable contributions, P600; and freight on cash on delivery purchase of merchandise, P820.
Prepare the journal entries peertinent to the petty cash fund.
Thank you.
July 1 Issued check against ABN-AMRO Savings bank account to establish the petty cash fund, P3,000.
July 15 replenished the fund by check against the ABN-AMRO Savings Bank account for P2,510. The following bills and receipts are on hand:
Freight on cash on delivery purchases P650
Postage 500
Computer Repair 900
Merienda for client 460
Total 2510
July 31 Replenished the fund and increased it to 4,000 by writing a check against the ABN-AMRO Savings Bank account. On this date, the fund contained P290 in currency and coins. Bills and reciepts on hand were for postage, P560; office supplies expense, P710; charitable contributions, P600; and freight on cash on delivery purchase of merchandise, P820.
Prepare the journal entries peertinent to the petty cash fund.
Thank you.