5 entries

Problem 8-2A Establishing, reimbursing, and adjusting petty cash LO P2 Kiona Co. set up a petty cash fund for payments of small amounts. The following ransactions involving the petty cash fund occurred in May the last month of the company's fiscal year). Nay 1 Prepared a conpany check for 6300 to establish the petcy cash Eund. 15 prepared a company check to replenish the fund tor the following expenditures nade aine May 1. a. Paid 88 fer janitorial servicea b. Paid 53.68 for miscellanepua expenses, e. Paid postage expense of 53-50 4. Paid 47.15 to The County Gazette Ithe Jocal pexspepe:) e. counted t62.15 remaining in the petty aahb Gazette ithe Local dexspapes) tar an 16 Prepared a company check for s200 to ncrease the tand ta 4500. 31 The petty cashier reporta that 2ee, 20 cash renalna in the fund. A compaay ebeek is drawn to replenish the fund or the following expendizures rade a1nce yay . f- Eaid postage expenses of 147-16 g. Reibursed the office manager for baasseaa mileage, 23.50 31 The companydecides that the yay 16 %terease in the tund too iarre. It tduee, the tund by mo, leaving 6 - total o: 8430 Required: 1. Prepare journal entries to establish the fund on May t to raplensh it on May 15 and on Mey 31, and to reflect eny increase ar decrease in the fund bolance on May 16 and May 31. (Round your anewers to 2 decimal places.) Journal entry worksheet