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(solution) SCB, Inc., had a balance of $600 in cash in


SCB, Inc., had a balance of $600 in cash in its petty cash fund at the beginning of September. The following transactions took place in September: a. On September 4, the custodian paid $34 out of petty cash for new stationery on which the company president's name appeared prominently. b. On September 11, the custodian paid $167 out of petty cash for maintenance manuals for the firm's new jet aircraft. c. On September 15, the custodian paid $37 out of petty cash for transportationin. d. On September 23, the custodian paid $46 out of petty cash to have documents delivered to the lawyers who were defending the firm in a lawsuit. e. On September 27, the custodian paid $231 out of petty cash to reimburse the president for costs he had incurred when bad weather prevented the company jet from landing to pick him up after a meeting. f. On September 30, the custodian submitted receipts for the above expenditures and a check was drawn for the amount to replenish the fund. Required: Prepare the journal entries made by the corporation to record these transactions.

 


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