On October 1, 2022, Ellis Company Establishes an Imprest Petty

question 22

Essay

On October 1, 2022, Ellis Company establishes an imprest petty cash fund by issuing a check for $150 to Pat Harmon, the custodian of the petty cash fund. On October 31, 2022, Pat Harmon submitted the following paid petty cash receipts for replenishment of the petty cash fund when there is $12 cash in the fund: $\begin{array}{lr}\text { Delivery Expense } & \$ 25 \\\text { Supplies Expense } & 32 \\\text { Entertainment of Clients } & 55 \\\text { Postage Expense } & 24\end{array}$ Instructions
Prepare the journal entries required to establish the petty cash fund on October 1 and the replenishment of the fund on October 31.

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Definitions:

Time Frame

A period during which a sequence of events or an action takes place or is completed.

Co-occurring Psychiatric Disorder(s)

The presence of two or more psychiatric disorders in an individual at the same time, often requiring integrated treatment.

Secondary Substance Abuse Model

A theory suggesting that substance abuse may develop due to the influence of external factors such as environmental stressors, rather than primary addiction alone.

Early Remission

A phase in the treatment of an illness where symptoms are reducing or disappearing, but the complete recovery criteria are not yet fully met.