Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 399 Weeks Ago, 1 Day Ago
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 16 Feb 2018 My Price 4.00

Sandra Morgan

Hangin’ Out Night Club maintains an imprest petty cash fund of $100, which is under the control of Sandra Morgan. At March 31, the fund holds $9 cash and petty cash tickets for office supplies, $77, and delivery expense, $20.
Requirements
1. Explain how an imprest petty cash system works.
2. Journalize establishment of the petty cash fund on March 1 and replenishment of the fund on March 31.
3. Prepare a T-account for Petty cash, and post to the account. What is Petty cash’s balance at all times?

Answers

Maurice Tutor
(5)
Status NEW Posted 16 Feb 2018 10:02 PM My Price 4.00

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