Analyzing Transactions in a Cash control system

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chapter 5 cards

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6 Terms

1
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Received bank statement showing bank service charge

  • Debit - Miscellaneous Expense

  • Credit - Cash

2
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Received notices from the bank of a dishonored check from J. Erlandson

  • Debit - Accounts Receivable-J. Erlandson

  • Credit - Cash

3
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paid cash on account to Fargo Supplies using EFT

  • Debit - Accounts Payable - Fargo Supplies

  • Credit - Cash

4
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Purchased supplies using a debit card

  • Debit - Supplies

  • Credit - Cash

5
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Paid Cash to Establish a petty cash fund

  • Debit - Petty Cash

  • Credit - Cash

6
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Paid cash to replenish a petty cash fund: $50; supplies, $35; Miscellaneous Expense, $14; cash short, $1.00

  • Debit - Supplies, Miscellaneous Expense, Cash Short

  • Credit - Cash