Business, 09.02.2022 17:50 mackenziemelton26
Waupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows $104 in cash along with receipts for the following expenditures: transportation-in, $40; postage expenses, $123; and miscellaneous expenses, $80. The petty cashier could not account for a $3 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare:
a. the September 9 entry to establish the fund
b. the September 30 entry to reimburse the fund
c. an October 1 entry to increase the fund to $400.
Answers: 3
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Waupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows $...
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