Question
Conway Designs established a $160 petty cash fund on October 1, 2020. Prepare the entry to replenish the fund at the end of each of
Conway Designs established a $160 petty cash fund on October 1, 2020. Prepare the entry to replenish the fund at the end of each of the following months of activity:
The petty cash box contained $18 on October 31 along with receipts for $77 for cleaning, $20 for postage, and $36 for delivery expense. On November 30, the petty cash box contained only two receipts, for a $61 computer repair and a $76 entertainment expense. The petty cash custodian counted cash remaining of $32. The petty cash box contained $17 on December 31 plus receipts for $26 for gas expense, $80 for office supplies, and $37 for entertainment expense. In addition to replenishing the fund, it was increased by $50
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