Business, 27.07.2020 01:01 princessammarah4731

Wildhorse Company established a petty cash fund on May 1, cashing a check for $125. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $3.55. Receipts: delivery expense $27.45, postage expense $36.25, and miscellaneous expense $55.60. July 1: Cash in fund $4.15. Receipts: delivery expense $18.90, entertainment expense $52.25, and miscellaneous expense $49.70. On July 10, Wildhorse increased the fund from $125 to $155. Prepare journal entries for Wildhorse Company.

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Answer from: smilequi9653

journal entries for Wildhorse Company are given below

Explanation:

Wildhorse Company established a petty cash fund on May 1,

DEBIT CREDIT

Petty cash $125

Cash $125

The company reimbursed the fund on June 1

DEBIT CREDIT

delivery expense $27.45

postage expense $36.25

miscellaneous expense $55.60

Cash under/over $2.15

Cash ($125-$3.55) $121.45

The company reimbursed the fund on July 1

DEBIT CREDIT

delivery expense $18.90

entertainment expense $52.25

miscellaneous expense $49.70

Cash ($125 - 4.15) $120.85

Wildhorse increased the fund from $125 to $155

DEBIT CREDIT

Petty cash $30

Cash $30

Answer from: Quest

Ithink b hope that

Answer from: Quest

The letter c i’m pretty sure

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Wildhorse Company established a petty cash fund on May 1, cashing a check for $125. The company reim...

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