January 2 Establish a petty cash fund of P10,000. January 2 Establish a petty cash fund of P10,000.

Petty cash fund 10,000 Petty cash fund 10,000

Cash in bank 10,000 Cash in bank 10,000

January 2-31 Petty cash expenses January 2-31 No entry

Postage 1,500
Supplies 5,500 February 1 The fund is replenished and increased by P5,000.
Transportation 1,200 Petty cash fund 5,000
Miscellaneous expense 800 Postage 1,500
9,000 Supplies 5,500
Transportation 1,200
Expenses 9,000 Miscellaneous expense 800
Petty cash fund 9,000 Cash in bank 14,000

February 1 The fund is replenished and increased by P5,000.

Petty cash fund 5,000
Cash in bank 5,000

Cash in checking account 350,000

Cash in money market account 750,000
Treasury bill, purchased November 1, 2020 maturing January 31,2021 3,500,000
Total 4,600,000

Checkbook balance 4,000,000

Undelivered check drawn on Thor's account 500,000
Total 4,500,000

Cash in bank (6,000,000 - 400,000) 5,600,000

Petty cash fund - all funds were reimbursed at year-end 50,000
Time deposit - three months, due January 15,2021 2,500,000
Saving deposit 1,000,000
Total 9,150,000

Checkbook balance 8,000,000

Check payable to Aruba, dated January 5, (2,000,000)
 Check payable to Aruba, deposited Decembe (500,000)
Check drawn on Aruba's account and payable 1,500,000
Cash on hand - undeposited collections 400,000
Change fund 40,000
Total 7,440,000

Treasury bill 2,500,000

Money market placement 3,000,000
Total 5,500,000

Checkbook balance 4,000,000

Undeposited collections 400,000
Postdated customer check (200,000)
Total adjusted cash in bank 4,200,000

Cash in bank 4,200,000

Undeposited collections 400,000
Petty cash fund (5,000 + 40,000) 45,000
Total cash 4,645,000

COH