On May16, the cash register tape shows that cash sales are $2,080 and sales tax is $104 for total sales of $2,184. The actual cash in the cash register drawer, after subtracting the amount of change fund is $2,180.
Instruction:
Prepare the appropriate T-accounts and pass the journal entries for the transaction.
Assignment 2 (10 points):
On February 28, American Sports Wear writes check No. 567 for $89 to replenish the petty cash fund. The following are the classified account totals.
- Supplies $23.45
- Delivery Expenses $30.00
- Utility Expenses $10.00
- Advertisement Expenses $25.55
Instruction:
Journalize the business transaction.