Johnston Construction Created a Petty Cash Fund on July 1

question 155

Essay

Johnston Construction created a petty cash fund on July 1, 2019 with an imprest balance of $400. During July, Sandy Bellamy, the fund custodian, signed the following petty cash tickets: $$\begin{array} { l l r } \text { Ticket \#Item } & \text { Amount } \\1 \quad\quad \text { Office supplies } & \$ 29.42 \\2 \quad\quad \text { Postage } & 19.00 \\3 \quad\quad \text { Courier charges } & 72.00 \\4 \quad\quad \text { Entertainment lunches } & 147.33 \\5 \quad\quad \text { Office supplies } & 123.24\end{array}$$ On July 31, prior to the replenishment, the fund contained these tickets plus $8.01.
Required:
Prepare journal entries to create the fund, replenish the fund, and increase the fund to $450.
General Journal
$$\begin{array} { | l | l | l | l | } \hline \text { Date } & \text { Accounts } & \text { Debit } & \text { Credit } \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline & & & \\\hline\end{array}$$

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Definitions:

Colour Code

A system for displaying information by using different colors to represent specific categories, statuses, or priorities in various contexts.

Demographic Characteristics

Specific attributes of a population segment including age, gender, income level, and educational attainment, used for market segmentation and analysis.

Visual Cues

Visual elements that influence consumer perception and behavior by attracting attention, conveying messages, or evoking emotions.

Sense of Touch

is one of the five main senses that involves the perception of physical pressure, temperature, and pain through skin contact, allowing individuals to experience their physical environment.