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1. Journalize the petty cash transactions. 2. Post to the Petty Cash account Question 4 Sunland Company maintains a petty cash fund for small expenditures.
1. Journalize the petty cash transactions.
Question 4 Sunland Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August Aug 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $216.00 15 Replenished the petty cash fund by writing a check for $183.00, On this date, the fund consisted of $33.00 in cash and these petty cash receipts: freight-out $66.40, entertainment expenser $28.00, postage experse $25.70 and miscellaneous expense $60.20 16 Increased the amount of the petty cash fund to $416.00 by wrting a check for $200.00. 31 Replenished the petty cash fund by writing a check for $291.00. On this date, the fund consisted of $125.00 in cash and these petty cash receipts: postage expense $137.00, entertainment expense $114.60, and freight-out $38.40 2. Post to the Petty Cash account
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