May 1. Established a petty cash fund of $800.
10. The cash sales for the day, according to the cash register records, totaled $3,345. The actual cash received from cash sales was $3,358.
31. Petty cash on hand was $275. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:
May 3. Store supplies, $290.
7. Express charges on merchandise sold, $70 (Delivery Expense).
9. Office supplies, $12.
13. Office supplies, $25.
19. Postage stamps, $18 (Office Supplies).
21. Repair to office file cabinet lock, $20 (Miscellaneous Administrative Expense).
May 22. Postage due on special delivery letter, $16 (Miscellaneous Administrative Expense).
24. Express charges on merchandise sold, $40 (Delivery Expense).
30. Office supplies, $10.
May 31. The cash sales for the day, according to the cash register records, totaled $6,155. The actual cash received from cash sales was $6,125.
31. Decreased the petty cash fund by $50.
Instructions
Journalize the transactions.
Answers:
2014
May 1 Petty Cash 800
Cash 800
10 Cash 3,358
Cash Short and Over 13
Sales 3,345
31 Store Supplies 290
Delivery Expense 110
Office Supplies 65
Miscellaneous Administrative Expense 36
Cash Short and Over 24
Cash 525
31 Cash 6,125
Cash Short and Over 30
Sales 6,155
31 Cash 50
Petty Cash 50