Business, 05.06.2020 23:00 Longjeremiahs8864

On June â€‹1, Top Taste Salad Dressings creates a petty cash fund with an imprest balance of $ 400. During June comma Sunny Lewis comma the fundâ€‹ custodian signs the following petty cashâ€‹ tickets: (Click the icon to view the petty cashâ€‹ tickets.) On June 30â€‹, prior toâ€‹ replenishment, the fund contains these tickets plus cash of $ 75. The accounts affected by petty cash payments are Officeâ€‹ Supplies, Travelâ€‹ Expense, Deliveryâ€‹ Expense, Entertainmentâ€‹ Expense, and Merchandise Inventory. Read the requirements a. explain the characteristics and the internal control features of an imprest fun.
b. on November 30, how much cash should the petty cash fund hold before it is replenished?
c. Journalize all required entries to create the fund and replenish it. include explanations
d. make the December 1 entry to increase the fund balance to 450. include an explanation, and briefly describe what the custodian does.

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On June â€‹1, Top Taste Salad Dressings creates a petty cash fund with an imprest balance of $ 400....

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