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Mathematics, 07.06.2020 10:58 gilbert325
Waupaca Company establishes a $450 petty cash fund on September 9. On September 30, the fund shows $197 in cash along with receipts for the following expenditures: transportation costs of merchandise purchased, $41; postage expenses, $80; and miscellaneous expenses, $121. The petty cashier could not account for a $11 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $530.
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Waupaca Company establishes a $450 petty cash fund on September 9. On September 30, the fund shows $...
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