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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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