LaSalle Company established a petty cash fund on May 1, cashing a check for $100. Prepare journal

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LaSalle Company established a petty cash fund on May 1, cashing a check for $100. Prepare journal entries for a The company reimbursed the fund on June 1 and July 1 with the following results. petty cash fund.

June 1: Cash in fund $1.75. Receipts: delivery expense $31.25; postage expense $41.00; (LO.3)

and miscellaneous expense $25.00.

July 1: Cash in fund $3.25. Receipts: delivery expense $21.00; entertainment expense $51.00; and miscellaneous expense $24.75.

On July 10, LaSalle increased the fund from $100 to $150.

Instructions Prepare journal entries for LaSalle Company for May 1, June 1, July 1, and July 10.

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Financial Accounting

ISBN: 9780470929384

8th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, J. Mather

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