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(Solved): Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selec ...



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 $670. 12. The cash sales for the day, according to the cash register records, totaled $14,454. The actual cash received from cash sales was $14,468. 30. Petty cash on hand was $51. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $74. June 10. Express charges on merchandise purchased, $107 (Merchandise Inventory). June 14. Office supplies, $47. June 15. Office supplies, $54. June 18. Postage stamps, $56 (Office Supplies). June 20. Repair to fax, $134 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $47 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery letter, $36 (Miscellaneous Administrative Expense). June 28. Express charges on merchandise purchased, $54 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $17,205. The actual cash received from cash sales was $17,167. 30. Increased the petty cash fund by $168.



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Please find the Journal entries answered below step by step: Date Account and Explanation Debit($) Credit($) 20X3 Petty Cash 670
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