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Brief Exercise 4-35 Petty Cash with Change in Fund Balance Canary Inc. maintains a petty cash fund with a balance of $1,800. During the month
Brief Exercise 4-35 Petty Cash with Change in Fund Balance Canary Inc. maintains a petty cash fund with a balance of $1,800. During the month of September, Canary's employees made routine expenses using cash from the petty cash fund totaling $1,150. At the end of September Canary replenishes the petty cash account, but it also decides to increase the fund balance to $2,000. Canary classifies all petty cash transactions as miscellaneous expense. Required: Prepare a journal entry to record the petty cash activity. If an amount box does not require an entry, leave it blank
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