Cactus Restoration Company completed the following selected transactions during
ID: 2776769 • 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.
October 1. Established a petty cash fund of $750. 12. The cash sales for the day, according to the cash register records, totaled $11,494. The actual cash received from cash sales was $11,519. 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
$ $ 01-Oct Petty Cash A/c DR 750 To Petty Cash Fund A/c 750 03-Oct Store Supplies A/c DR 398 To Petty Cash A/c 398 07-Oct Delivery Expense A/c DR 32 To Petty Cash A/c 32 09-Oct Office Supplies A/c DR 16 To Petty Cash A/c 16 12-Oct Petty Cash A/c DR 11519 To Accounts Receivable A/c 25 To Cash Sales A/c 11494 13-Oct Office Supplies A/c DR 18 To Petty Cash A/c 18 19-Oct Office Supplies A/c DR 13 To Petty Cash A/c 13 21-Oct Misc. Admin Expense A/c DR 11 To Petty Cash A/c 11 22-Oct Misc. Admin Expense A/c DR 27 To Petty Cash A/c 27 24-Oct Delivery Expense A/c DR 52 To Petty Cash A/c 52 30-Oct Office Supplies A/c DR 8 To Petty Cash A/c 8 31-Oct Petty Cash A/c DR 18255 To Accounts Receivable A/c 40 To Cash Sales A/c 18215 31-Oct Petty Cash Fund A/c DR 110 To Petty Cash A/c 110 31-Oct Petty Cash A/c DR 575 To Petty Cash Fund A/c 575