Picasso Restoration Company completed the following selected transactions during August 2012: Aug

Accounting Jan 22, 2021

Picasso Restoration Company completed the following selected transactions during August 2012:
Aug. 1. Established a petty cash fund of $750
10. The cash sales for the day, according to the cash register records, totaled $9,780. The actual cash received from cash sales was $9,800.
31. Petty cash on hand was $240. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:
Aug. 3. Store supplies, $251.
7. Expenses charges on merchandise sold, $60 (Deliver Expense)
9. Office supplies, $20.
13. Office supplies, $30.
19. Postage stamps, $11 (Office Supplies).
21. Repair to office file cabinet lock, $40 (Miscellaneous Administrative Expense).
Aug. 22. Postage due on special delivery letter, $18 (Miscellaneous Administrative Expense)
24. The cash sales for the day, according to the cash register records, totaled $11,200. The actual cash received from cash sales was $11,130.
31. Decreased the petty cash fund by $100.
Instructions
Journalize the transactions.

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