Question

Transactions for Petty Cash, Cash Short and Over

Wyoming Restoration Company completed the following selected transactions during July 20Y1:

July 1.	Established a petty cash fund of $1,090.
12.	The cash sales for the day, according to the cash register records, totaled $11,972.
	The actual cash received from cash sales was $11,992.
31.	Petty cash on hand was $83. Replenished the petty cash fund for the following
	disbursements, each evidenced by a petty cash receipt:
	July 3. Store supplies, $120.
	July 7. Express charges on merchandise sold, $174 (Delivery Expense).
	July 9. Office supplies, $76.
	July 13. Office supplies, $87.
	July 19. Postage stamps, $92 (Office Supplies).
	July 21. Repair to fax, $218 (Miscellaneous Administrative Expense).
	July 21. Repair to office file cabinet lock, $76 (Miscellaneous Administrative Expense).
	July 22. Postage due on special delivery letter, $59 (Miscellaneous Administrative Expense).
	July 24. Express charges on merchandise sold, $87 (Delivery Expense).
	July 30. Office supplies, $30.
31.	The cash sales for the day, according to the cash register records, totaled $21,388.
	The actual cash received from cash sales was $21,342.
31.	Decreased the petty cash fund by $273.

Answer 1

Answer
Date	Account titles and Explanation	Debit ($)	Credit ($)
Jan.1	Petty cash	$        1,090
	Cash		$        1,090
Jan.12	Cash	$      11,992
	Sales		$      11,972
	Cash over and under		$             20
Jan.31	Store Supplies	$           120
	Delivery Expense (174+87)	$           261
	Office Supplies (76+87+92+30)	$           285
	Miscellaneous Administrative Expense (218+76+59)	$           353
	Cash Short and Over		$             12
	Cash (1090-83)		$        1,007
Jan.31	Cash	$      21,342
	Cash Short and Over	$             46
	Sales		$      21,388
Jan.31	Cash	$           273
	Petty cash		$           273