15. ABC replenished the petty fund by writing a check for 195. On this date, the fund consisted of 5 on hand and the following petty cash receipts :freight- in 94, postage expense 42.40, entertainment expense 44.60, and miscellaneous expense 11.90.

Question

15. ABC replenished the petty fund by writing  a check for 195.  On this date,  the fund consisted of 5 on hand and the following petty cash receipts :freight- in 94,  postage expense 42.40, entertainment expense 44.60, and miscellaneous expense 11.90.
Journalize the petty cash transactions.

GPT 3.5 · Answer

The petty cash transactions can be journalized as follows:

1. To replenish petty cash:
Debit: Petty Cash Replenishment Expense: 195
Credit: Cash: 195

2. To record freight-in expense paid from petty cash:
Debit: Freight-in Expense: 94
Credit: Petty Cash: 94

3. To record postage expense paid from petty cash:
Debit: Postage Expense: 42.40
Credit: Petty Cash: 42.40

4. To record entertainment expense paid from petty cash:
Debit: Entertainment Expense: 44.60
Credit: Petty Cash: 44.60

5. To record miscellaneous expense paid from petty cash:
Debit: Miscellaneous Expense: 11.90
Credit: Petty Cash: 11.90