Accounting – Essay Furious


April Transactions:
Apr. 1 Established a petty cash fund of $350.
10 Cash sales for the day, according to the cash register records, totaled $3,120. The actual cash received from cash sales was $3,122.
30 The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following petty cash receipts: office supplies, $98; postage, $106; miscellaneous, $12. Record any missing funds in the cash short and over account.
30 Cash sales for the day, according to the cash register records, totaled $6,350. The actual amount of cash received for the day was $6,336.
30 Decreased the petty cash fund by $100.

Required:

Journalize the entries to record the above transactions. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTS
General Ledger
ASSETS
110 Cash
111 Petty Cash
120 Accounts Receivable
131 Notes Receivable
132 Interest Receivable
141 Inventory
145 Office Supplies
151 Prepaid Insurance
181 Land
191 Equipment
192 Accumulated Depreciation
LIABILITIES
210 Accounts Payable
221 Notes Payable
222 Interest Payable
231 Salaries Payable
241 Sales Tax Payable
EQUITY
310 Common Stock
311 Retained Earnings
312 Dividends
REVENUE
410 Sales
610 Interest Revenue
EXPENSES
510 Cost of Goods Sold
515 Credit Card Expense
516 Cash Short and Over
520 Salaries Expense
531 Advertising Expense
532 Transportation Expense
533 Insurance Expense
534 Office Supplies Expense
535 Rent Expense
536 Repairs Expense
541 Postage Expense
542 Entertainment Expense
561 Depreciation Expense
591 Miscellaneous Expense
710 Interest Expense

ournalize the entries for the month of April. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

ACCOUNTING EQUATION

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