journalize the replenishment of the fund (prepare a single compound journal entry)\ndate accounts and…

journalize the replenishment of the fund (prepare a single compound journal entry)\ndate accounts and explanation debit credit\njune 30 supplies 40\ntravel expense 25\ndelivery expense 20\nentertainment expense 95\nmerchandise inventory 140\ncash\ncash short and over\nto replenish the petty - cash fund\npetty cash tickets\npetty cash ticket number item amount\n101 supplies $ 40\n102 cab fare for executive 25\n103 delivery of package across town 20\n104 business dinner 95\n105 merchandise inventory 140

journalize the replenishment of the fund (prepare a single compound journal entry)\ndate accounts and explanation debit credit\njune 30 supplies 40\ntravel expense 25\ndelivery expense 20\nentertainment expense 95\nmerchandise inventory 140\ncash\ncash short and over\nto replenish the petty - cash fund\npetty cash tickets\npetty cash ticket number item amount\n101 supplies $ 40\n102 cab fare for executive 25\n103 delivery of package across town 20\n104 business dinner 95\n105 merchandise inventory 140

Answer

Explanation:

Step1: Calculate total of debits

$40 + 25+20 + 95+140=320$

Step2: Determine credit to cash

The total amount of expenses (debits) is the amount needed to replenish the petty - cash fund. So the credit to cash is the total of the debits. $320$

Step3: Determine cash short and over

Assuming no cash short or over situation (not indicated otherwise), the amount for cash short and over is $0$. $0$

Answer:

Date Accounts and Explanation Debit Credit
June 30 Supplies 40
Travel Expense 25
Delivery Expense 20
Entertainment Expense 95
Merchandise Inventory 140
Cash 320
Cash Short and Over 0
To replenish the petty cash fund