Present Entries to Record the Following Transactions

question 33

Essay

Present entries to record the following transactions:
a) Established a petty cash fund of $235.00.
b) The petty cash fund now has a balance of $42.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies, $74.50; miscellaneous administrative expense, $92.75; and miscellaneous selling expense, $18.60.
c) Increased the petty cash fund to $300.00.

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Definitions:

Lawrence, Massachusetts

A city in Massachusetts known for its significant role in the American labor movement and textile industry.

Child Labor

The employment of children in an industry or business, especially when illegal or considered exploitative, prevalent during the Industrial Revolution and still a concern in many countries.

Textile Mills

Factories for the production of textiles, or cloth materials, often seen as the backbone of the industrial revolution.

White Supremacy

An ideology that holds white people as superior to those of all other races, advocating for the social, political, and economic dominance of whites.