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Problem 13 The Bozo School Petty Cash fund




Problem 13 15 points;The Bozo School for Clowns established a $1,000 Petty Cash fund on January 2, 2014.;At the end of January, Petty Cash fund included cash of $940.75 and receipts for the following expenditures: $22.75 for freight, $7.65 postage and $24.85 office Supplies.;Give the following journal entries;A) To establish the Petty Cash fund.;B) To reimburse the Petty Cash fund at the end of January.;C) It was decided that $1,000 was too much money in the Petty Cash fund. Management;wants the Petty Cash Fund balance reduced to $250.


Paper#79466 | Written in 18-Jul-2015

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