MTR Company maintains a petty cash fund for small expenditures. These trans-

Joumalize and post petty actions occurred over a 2 -month period: cash fund transactions. (SO 9)

July 1 Established the petty cash fund by writing a check on Metro Bank for \(\$ 200\)

15 Replenished the petty cash fund by writing a check for \(\$ 194.30\). On this date the fund consisted of \(\$ 5.70\) in cash and these petty cash receipts: freight-out \(\$ 94.00\), postage expense \(\$ 42.40\), entertainment expense \(\$ 46.60\), and miscellaneous expense \(\$ 10.70\).

31 Replenished the petty cash fund by writing a check for \(\$ 192.00\). At this date the fund consisted of \(\$ 8.00\) in cash and these petty cash receipts: freight-out \(\$ 82.10\), charitable contributions expense \(\$ 30.00\), postage expense \(\$ 47.80\), and miscellaneous expense \(\$ 32.10\)

Aug. 15 Replenished the petty cash fund by writing a check for \(\$ 188.00\). On this date the fund consisted of \(\$ 12.00\) in cash and these petty cash receipts: freightout \(\$ 74.40\), entertainment expense \(\$ 43.00\), postage expense \(\$ 33.00\), and miscellaneous expense \(\$ 38.00\).

16 Increased the amount of the petty cash fund to \(\$ 300\) by writing a check for \(\$ 100\).

31 Replenished the petty cash fund by writing a check for \(\$ 283.00\). On this date, the fund consisted of \(\$ 17\) in cash and these petty cash receipts: postage expense \(\$ 145.00\), entertainment expense \(\$ 90.60\), and freight-out \(\$ 45.40\).

\section*{Instructions}

(a) Journalize the petty cash transactions.

(b) Post to the Petty Cash account.

(c) What internal control features exist in a petty cash fund?