Halle’s Berry Farm establishes a $200 petty cash fund on
September 4 to pay for minor cash expenditures. The fund is replenished at the
end of each month. At the end of September, the fund contains $30 in cash. The
company has also issued a credit card and authorized its office manager to make
purchases. Expenditures for the month include the following items:
Office party
decorations (petty cash) $ 170
Lawn maintenance
(credit card) 420
Postage (credit
card) 575
Fuel for deliveries
(credit card) 285
Required:
Record the establishment of the petty cash fund on September
4, all expenditures made during the month, and the replenishment of the petty
cash fund on September 30. The credit card balance is not yet paid.
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