In a periodic inventory system, there is no need to record an entry to Merchandise Inventory and Cost of Goods Sold

Prepare the journal entries for the following petty cash transactions of Allen Coffee Shop

Sept. 10 Established a petty cash fund with a $300 balance. Sept 30 The petty cash fund has $105 in cash and $200 in petty cash tickets there were issued to pay for Delivery Expense ($115 ) and Postage Expense ($85 ). Replenished the fund and recorded the expenditures. Oct. 15 Decreased the balance of the petty cash fund to $250. What will be an ideal response

Although a label on a package must meet legal requirements, it represents another opportunity to reach consumers with a marketing message

Indicate whether the statement is true or false