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Bonita Company established a petty cash fund on May 1, cashing a check for $125. The company reimbursed the fund on June 1 and July
Bonita Company established a petty cash fund on May 1, cashing a check for $125. The company reimbursed the fund on June 1 and July 1 with the following results. Receipts: delivery expense $30.35, postage expense $37.35, and miscellaneous expense $52.60. June 1: Cash in fund $2.50. July 1: Cash in fund $5.35. Receipts: delivery expense $24.10, entertainment expense $46.30, and miscellaneous expense $49.25. On July 10, Bonita increased the fund from $125 to $155.00. Prepare journal entries for Bonita Company for May 1, June 1, July 1, and July 10. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75. Record journal entries in the order presented in the problem.)
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