4)

PETTY CASH PROBLEM:

On 05/01/19, Smith CPA firm established a imprest petty cash fund for $450.00.

Petty Cash Tickets for the month include the follwing items:Food &Beverages $85.00; Tips for

Delivery Drivers $45,00 , Transit fares $150.00 ,Office Supplies $175.00.Cash on hand at 05/31/19 is $15.00.

Required:

1)At 05/01/19, record the entry for the establishment of the fund .

2) At 05/31/ 19, record the entry for the replenishment of the fund.

3)At 05/31/19, record the entry to increase the fund to $550.00