Question

Transactions for Petty Cash, Cash Short and Over

Cedar Springs Company completed the following selected transactions during June:

June 1.	Established a petty cash fund of $1,390.
12.	The cash sales for the day, according to the cash register records, totaled $13,302.
	The actual cash received from cash sales was $13,333.
30.	Petty cash on hand was $106. Replenished the petty cash fund for the following
	disbursements, each evidenced by a petty cash receipt:
	June   2. Store supplies, $153.
	June 10. Express charges on merchandise purchased, $222 (Merchandise Inventory).
	June 14. Office supplies, $97.
	June 15. Office supplies, $111.
	June 18. Postage stamps, $117 (Office Supplies).
	June 20. Repair to fax, $278 (Miscellaneous Administrative Expense).
	June 21. Repair to office door lock, $97 (Miscellaneous Administrative Expense).
	June 22. Postage due on special delivery letter, $75 (Miscellaneous Administrative Expense).
	June 28. Express charges on merchandise purchased, $111 (Merchandise Inventory).
30.	The cash sales for the day, according to the cash register records, totaled $22,841.
	The actual cash received from cash sales was $22,800.
30.	Increased the petty cash fund by $348.

Required:

Journalize the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

June 1
June 12
June 30-Replenish
June 30-Sale
June 30-Petty cash

Answer 1

Date	General Journal	Debit	Credit
June 1	Petty Cash	$1,390
	Cash		$1,390
June 12	Cash	$13,333
	Cash short and over		$31
	Sales		$13,302
June 30	Store Supplies	$153
	Merchandise Inventory	$333
	Office Supplies	$325
	Miscellaneous Administrative Expense	$450
	Cash short and over	$23
	Cash		$1,284
June 30	Cash	$22,800
	Cash short and over	$41
	Sales		$22,841
June 30	Petty Cash	$348
	Cash		$348