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  • Sep 4, 2013, 04:04 AM
    Yenidee
    Petty Cash Fund
    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.

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