Journalize the Entries to Record the Following

question 69

Essay

Journalize the entries to record the following:
Jun 1 Established a petty cash fund of $200
Jun 30 The amount of cash in the petty cash fund is now $57. The fund is replenished based on the following receipts: postage, $25; entertainment $100; miscellaneous $20.
Record any discrepancy in the cash short and over account.
Journal

Compare and contrast individual versus social realities of the self through fictional dialogue or hypothetical scenarios.

Understand different interpretations of free will and determinism.

Comprehend the notions of negative and positive freedom.

Recognize the impact of external circumstances and other people on individual freedom.

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Definitions:

Marginal Cost

The additional financial cost due to the creation of an extra product or service unit.

Average Total Cost

The average total cost is the total cost of production divided by the quantity of output produced.

Marginal Cost Curve

A visual diagram that illustrates the variation in the cost to produce an additional unit of a product as the quantity produced changes.

Average Total Cost Curve

A curve that shows the average cost per unit of output at different levels of production; it typically has a U-shape.