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22 September, 14:24

ournalize the entries to record the following: June 1 Established a petty cash fund of $200. 30 The amount of cash in the petty cash fund is now $57. The fund is replenished based on the following receipts: postage, $25; entertainment, $100; and miscellaneous, $20. Record any discrepancy in the cash short and over account. If an amount box does not require an entry, leave it blank.

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  1. 22 September, 14:55
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    The journal entries are as follows:

    (i) On June 1,

    Petty cash A/c Dr. $200

    To cash $200

    (To record petty cash established)

    (ii) On June 30,

    Postage A/c Dr. $25

    Entertainment A/c Dr. $100

    Miscellaneous A/c Dr. $20

    To cash short and over A/c $2

    To cash ($200 - $57) $143

    (To record cash replenishment)
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