pleaseee accounting help!!!!?

Question

E7-16. Mora Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August.

Aug. 1 Established the petty cash fund by writing a check on Central Bank for $200.

15 Replenished the petty cash fund by writing a check for $170. On this date, the fund consisted of $30 in cash and these petty cash receipts: freight-out $74.40, entertainment expense $36, postage expense $33.70 and mmiscellaneous expense $27.50.

16 Increased the amount of the petty cash fund to $400 by writing a check for $200.

31 Replenished the petty cash fund by writing a check for $283. On this date, the fund consisted of $117 in cash and these petty cash receipts: postage expense $145, entertainment expense $90.60, and freight-out $46.40.


Instructions
(a) Journalize the petty cash transactions.
(b) Post to the Petty Cash account.
(c) What internal control features exist in a petty cash fund?

Answer 1

Debit petty cash 200
Credit cash in bank200.00

Debit
Freight out 74.40
Entertainment36.00
Postage33.70
Misc27.50
Credit cash in bank170.00
Cash over and short 1.60

Debit petty cash 200
Credit cash in bank200

The only controls are the recipes need to be collected to justify the expenses and the petty cash needs to be kept in the safe.

Answer 2

1-established the petty cash fund
Dr 200 a petty cash fund
Cr 200 cash
2-the second entry
Dr 74.40 freight - out
Dr 36 entertainment expense
Dr 33.70 postage expense
Dr 27.50 miscellaneous
Cr 170 cash

Answer 3

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RE :Pleaseee accounting help!!!!?
E7-16. Mora Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August.

Aug. 1 Established the petty cash fund by writing a check on Central Bank for $200.

15 Replenished the petty cash fund by writing a check for $170. On this date, the fund consisted of $30 in cash and these petty cash receipts: freight-out $74.40, entertainment expense $36, postage expense $33.70 and mmiscellaneous expense $27.50.

16 Increased the amount of the petty cash fund to $400 by writing a check for $200.

31 Replenished the petty cash fund by writing a check for $283. On this date, the fund consisted of $117 in cash and these petty cash receipts: postage expense $145, entertainment expense $90.60, and freight-out $46.40.


Instructions
(a) Journalize the petty cash transactions.
(b) Post to the Petty Cash account.
(c) What internal control features exist in a petty cash fund?
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