Janet Lee Music Created a Petty Cash Fund on July

question 48

Essay

Janet Lee Music created a petty cash fund on July 1, 2019 with an imprest balance of $200. During July, Gerry Lynn, the fund custodian, signed the following petty cash tickets: $$\begin{array} { l l r } \text { Ticket \# Item } & \text { Amount } \\1 \quad\quad \text { Office supplies } & \$ 19.42 \\2 \quad\quad \text { Postage } & 9.00 \\3 \quad\quad \text { Courier charges } & 12.00 \\4 \quad\quad \text { Sheet music } & 77.33 \\5 \quad\quad \text { Office supplies } & 29.14\end{array}$$ On July 31, prior to the replenishment, the fund contained these tickets plus $55.11.
Required:
Prepare journal entries to create the fund, replenish the fund, and increase the fund to $250.
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:

Psychological Congruence

Psychological Congruence refers to a state where an individual's self-concept, experiences, and reality are in harmony, enhancing personal wellbeing and authenticity.

Subjective Well-being

Subjective Well-being refers to how individuals experience and evaluate their lives and specific domains and activities in their lives, encompassing emotional reactions and cognitive judgments.

Positive Psychologist

A professional who studies the strengths and virtues that enable individuals and communities to thrive, focusing on positive aspects of human behavior.

Evolution

A process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.