Using a Petty Cash Register Cycle Tech Bicycles decided to establish a petty cash fund

QUESTION:

Using a Petty Cash Register

Cycle Tech Bicycles decided to establish a petty cash fund. On February 1 the accountant issued Check 3724 for $120 to establish the fund. The following disbursements were made.

Instructions

1. In your working papers, record the entry to establish the petty cash fund in a general journal, page 5.

2. Enter the information about the establishment of the petty cash fund on line 1 of a petty cash register, page 1.

3. Record the petty cash disbursements in the petty cash register.

4. Foot, total, and prove the petty cash register on February 28.

5. Record the petty cash fund replenishment information in the explanation column below the totals. On February 28 there was $4.35 in the petty cash box.

6. Prepare a petty cash requisition form. Use the form provided in your working papers and sign your name as petty cashier.

7. Record the issuance of Check 3875 to replenish the petty cash fund in the general journal, page 8.

Analyze Identify the number of payments that were made from the petty cash fund during the month of February.