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1. Brooks Agency set up a petty cash fund for $90. At the end of the current period, the fund contained $3 and had
1. Brooks Agency set up a petty cash fund for $90. At the end of the current period, the fund contained $3 and had the following receipts: entertainment, $47; postage, $20; and printing, $20. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. 2. Identify the two events from the following that cause a Petty Cash account to be credited in a journal entry. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. View transaction list Required 1 Required 2 Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. View transaction list Journal entry worksheet < 1 2 Record the establishment of the petty cash fund. Note: Enter debits before credits. Transaction 1a General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. View transaction list Journal entry worksheet < 1 2 Record the reimbursement of the fund at the end of the current period. Note: Enter debits before credits. Transaction 1b. General Journal Debit Credit Record entry Clear entry View general journal
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