RECORDING PETTY CASH TRANSACTIONS

RECORDING PETTY CASH TRANSACTIONS

Chicago, Inc., had a balance of $1,200 in cash in its petty cash fund at the beginning of September. The following transactions took place in September:
a. On September 4, the custodian paid $75 out of petty cash for new stationery on which the company president’s name appeared prominently.
b. On September 11, the custodian paid $350 out of petty cash for maintenance manuals for the firm’s new jet aircraft.
c. On September 15, the custodian paid $25 out of petty cash for transportation-in.
d. On September 23, the custodian paid $50 out of petty cash to have documents delivered to the lawyers who were defending the firm in a lawsuit.
e. On September 27, the custodian paid $175 out of petty cash to reimburse the president for costs he had incurred when bad weather prevented the company jet from landing to pick him up after a meeting.
f. On September 30, the custodian submitted receipts for the above expenditures and a check was drawn for the amount to replenish the fund.
RECORDING PETTY CASH TRANSACTIONS