Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Feb 2018 My Price 6.00

Cleaver Video Stores

Petty Cash Fund

On January 2, 2008, Cleaver Video Stores decided to set up a petty cash fund. The treasurer established

the fund by writing and cashing a $300 check and placing the coin and currency in a locked

petty cash drawer. Edward Haskell was designated as the custodian for the fund. During January, the following receipts were given to Haskell in exchange for cash from the fund:

A count of the cash in the drawer on January 31 revealed a balance of $74.10. The treasurer wrote and cashed a check on the same day to restore the fund to its original balance of $300. Prepare the necessary journal entries, with explanations, for January. Assume that all stamps and office supplies were used during the month.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Feb 2018 10:02 PM My Price 6.00

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