*Exercise 7-15 During October, Carla Vista Company experiences the following tra

Question

*Exercise 7-15 During October, Carla Vista Company experiences the following transactions in establishing a petty cash fund Oct.1 A petty cash fund is established with a check for $146.00 issued to the petty cash custodian 31 A check was written to reimburse the fund and increase the fund to $196.00. A count of the petty cash fund disclosed the following items Currency Coins Expenditure receipts (vouchers) $59.00 2.03 Supplies Telephone, Internet, and fax Postage Freight-Out $24.77 15.07 38.37 5.47 ournalize the entries in October that pertain to the petty cash fund. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Oct. 1 Oct. 31

Explanation / Answer

Journal entries Date Acccounts title and explanations Debit $ Credit $ 1-Oct Petty cash Account Dr. 146      Cash account 146 31-Oct Supplies Account Dr. 24.77 Utilities expense Account Dr. 15.07 Postage expense Account Dr. 38.37 Freight out expense Account Dr. 5.47 Short and Surplus Account Dr. 1.29       Cash Account 84.97

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