Question
2. Tammy Theatre established a petty cash fund for small cash transactions. The following transactions occurred during July; July 1 Established the petty cash fund;
2. Tammy Theatre established a petty cash fund for small cash transactions. The following transactions occurred during July;
July 1 Established the petty cash fund; the imprest amount was $200. The fund was created with check 1019.
July 31 Replenished the petty cash fund with check 1040. The following receipts were on hand: Purchases, $88.42; Freight In, $38.15; Laundry Service, $32.00; Miscellaneous Expense, $3.93. The fund had cash of $27.50.
Aug. 1 Increased the balance in the petty cash fund to $250.00
Aug. 31 Replenished the Petty Cash fund with check 1135. The following receipts were on hand: Postage $60, Office Supplies $58.20, Contributions $35, Freight In $75. The fund had cash of $25.80
Required: In journal form prepare the entries for the petty cash fund.
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