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Instructions 8-2A Journalize the transactions.

Transactions for

petty cash, cash

short and over

Hallihan Company completed the following selected transactions during June 2010:

June 1. Established a petty cash fund of $500.

12. The cash sales for the day, according to the cash register records, totaled $13,115.

The actual cash received from cash sales was $13,129.

30. Petty cash on hand was $38. Replenished the petty cash fund for the following

disbursements, each evidenced by a petty cash receipt:

June 2. Store supplies, $55.

10. Express charges on merchandise purchased,$80(Merchandise Inventory).

14. Office supplies, $35.

15. Office supplies, $40.

18. Postage stamps, $42 (Office Supplies).

20. Repair to fax, $100 (Miscellaneous Administrative Expense).

21. Repair to office door lock, $35 (Miscellaneous Administrative Expense).

22. Postage due on special delivery letter, $27 (Miscellaneous Administrative Expense).

28. Express charges on merchandise purchased,$40(Merchandise Inventory).

30. The cash sales for the day, according to the cash register records, totaled $16,850.

The actual cash received from cash sales was $16,833.

30. Increased the petty cash fund by $125.

Instructions 8-3A Answer 1. Adjusted balance: $13,445

1. Prepare a bank reconciliation.

2. Journalize the necessary entries. The accounts have not been closed.

The cash account for Interactive Systems at February 28, 2010, indicated a balance of

$7,635. The bank statement indicated a balance of $13,333 on February 28, 2010.

Comparing the bank statement and the accompanying canceled checks and memos

with the records reveals the following reconciling items:

a. Checks outstanding totaled $4,118.

b. A deposit of $4,500, representing receipts of February 28, had been made too late to

appear on the bank statement.

c. The bank had collected $5,200 on a note left for collection. The face of the note was

$5,000.

d. A check for $290 returned with the statement had been incorrectly recorded by

Interactive Systems as $920. The check was for the payment of an obligation to Busser

Co. for the purchase of office supplies on account.

e. A check drawn for $415 had been incorrectly charged by the bank as $145.

f. Bank service charges for February amounted to $20.