Cactus Restoration Company completed the following selected transactions during
ID: 2461564 • Letter: C
Question
Cactus Restoration Company completed the following selected transactions during October 2016:
Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.
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JOURNAL
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October 1. Established a petty cash fund of $750. 12. The cash sales for the day, according to the cash register records, totaled $12,440. The actual cash received from cash sales was $12,465. 31. Petty cash on hand was $157. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:Explanation / Answer
DATE PARTICULLAR DEBIT $ CREDIT $ OCT 1 PETTY CASH 750 CASH 750 OCT 12 CASH 12465 SALES REVENUE 12440 CASH OVER / SHORT 25 OCT 3 - 30 STORE SUPPLIES 390 OFFICE SUPPLIES 56 DELIVERY EXPENSES 90 MISC ADMIN EXPENSES 42 CASH OVER/ SHORT 15 CASH 593 OCT 31 CASH 18780 CASH OVER / SHORT 40 SALES REVENUE 18820 OCT 31 CASH 100 PETTY CASH 100