Journalize the Entries to Record the Following

question 97

Essay

Journalize the entries to record the following:
Sept 1 Established a petty cash fund of $350
Sept 30 The amount of cash in the petty cash fund is now $130. The fund is replenished based on the following receipts: office supplies, $116; postage $100.
Record any discrepancy in the cash short and over account.
Journal

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Definitions:

Object Permanence

The understanding that objects continue to exist even when they cannot be observed, a concept developed in infancy.

Egocentrism

A cognitive bias that leads to difficulty in understanding or acknowledging the viewpoint of others, often seen in the early stages of childhood development.

Young Apprentices

Individuals, often minors, who are learning a trade or craft from a skilled employer, gaining practical experience while often receiving some form of education.

Jean Piaget

A Swiss psychologist known for his pioneering work in the study of child development and his theory of cognitive development.