Reference no: EM132950164
The following transactions occurred in April 2023 for Smith's Designs:
April 1 Issue cheque no. 14 for $120 to establish a petty cash fund.
April 5 Paid $10 from Petty Cash for postage, Voucher no. 1.
April 8 Paid $19 from Petty Cash for office supplies, Voucher no. 2.
April 15 Issued Cheque no. 15 to Upright Corporation for $160 for the purchases on account made in the past.
April 17 Paid $17 from Petty Cash for Office Supplies, Voucher no. 3.
April 20 Issued Cheque no. 16 to Barret Corporation $675 for purchases on account.
April 24 Paid $19 from Petty Cash for postage, Voucher no. 4.
April 26 Paid $12 from Petty Cash for local Church Donations, Voucher no. 5. (Miscellaneous payment).
April 28 Issued Cheque no. 17 to Jay Loon to pay for Office Equipment, $625.
April 30 Replenished Petty Cash, Cheque no. 18. Assume no shortage or overage.
Required:
Problem i. Record the appropriate entries in the general journal and the auxiliary petty cash record.
Problem ii. Replenish the petty cash fund on April 30.
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