requirement 2. make the (general) journal entry to record the petty - cash fund replenishment. cash in the…
requirement 2. make the (general) journal entry to record the petty - cash fund replenishment. cash in the fund totals $150. include an explanation. (record debits first, then credits. select the explanation on the last line of the journal entry table. prepare a single compound journal entry.) date accounts and explanation debit credit petty cash tickets petty cash ticket no. item account debited amount ticket no. 1 delivery of programs to customers delivery expense $25 ticket no. 2 mail package postage expense 45 ticket no. 3 newsletter printing expense 20 ticket no. 4 key to closet miscellaneous expense 30 ticket no. 5 copies paper supplies 30
Answer
Explanation:
Step1: Calculate total expenses
Sum up the amounts on petty - cash tickets: $25 + 45+20 + 30+30=150$.
Step2: Determine the journal entry
The petty - cash fund is being replenished. We debit the expense accounts and credit Cash. Debit Delivery Expense $25$, Postage Expense $45$, Printing Expense $20$, Miscellaneous Expense $30$, Supplies $30$; Credit Cash $150$.
| Date | Accounts and Explanation | Debit | Credit |
|---|---|---|---|
| [Date of replenishment] | Delivery Expense | $25$ | |
| Postage Expense | $45$ | ||
| Printing Expense | $20$ | ||
| Miscellaneous Expense | $30$ | ||
| Supplies | $30$ | ||
| Cash | $150$ | ||
| (To replenish petty - cash fund) |
Answer:
The journal entry is as shown in the table above.