The following scenarios illustrate how your P&C may receive money. For
each example, identify the best way to account for these funds.
On 1 April 2002, the Sample SS hands you a cheque for $55.00. This is for
catering for the School Council meeting. The Sample SS provides you with a
cheque, number 123.
On the same day, 1 April 2002, your preschool students and the teacher aide
hand in $230.50 in cash which is money taken in the P&C chocolate drive.
Mrs Happy Helper, the preschool aide, has recorded details of what each student
handed to her.
Mrs Soap pays for her children's uniforms and book packs for last year. She pays $520 by credit card.
Tuesday is homemade pie day and the tuckshop has had a busy day. Jane Arnold and Sue Beattie, who are in charge of counting the money, agree that total sales of $3 687.00 were made on this day, 23 May 2002. Sue Beattie banked these takings on her way home. Their daily float is $50. What is the best way to account for tuckshop takings and record the entry?