During March Anderson Company engaged in the

following transactions involving #2330

During March, Anderson Company engaged in the following transactions involving its petty cash
fund:a. On March 1, Anderson Company established the petty cash fund by issuing a check for
$1,500 to the fund custodian.b. On March 4, the custodian paid $85 out of petty cash for freight
charges on new equipment.This amount is properly classified as equipment.c. On March 12, the
custodian paid $140 out of petty cash for supplies. Anderson expenses supplies purchases as
supplies expense.d. On March 22, the custodian paid $25 out of petty cash for express mail
services for reports sent to the Environmental Protection Agency. This is considered a
miscellaneous expense.e. On March 25, the custodian filed a claim for reimbursement of petty
cash expenditures during the month totaling $250.f. On March 31, Anderson issued a check for
$250 to the custodian, replenishing the fund for expenditures during the
month.Required:Prepare the journal entries required to record the petty cash account
transactions that occurred during the month of March.View Solution:
During March Anderson Company engaged in the following transactions involving

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