Crane, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. 2. 3. On April 1, it established a petty cash fund in the amount of $225. A summary of the petty cash expenditures made by the petty cash custodian as of April 10, when the balance in petty cash was $2, is as follows. Delivery charges paid on merchandise purchased Supplies purchased and used Postage expense I.O.U. from employees Miscellaneous expense $70 35 43 27 46 The company uses a periodic Inventory system. The petty cash fund balance was increased $110 to $335 on April 20.

Crane, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April 1, it established a petty cash fund in the amount of $225. 2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10, when the balance in petty cash was $2, is as follows. The company uses a periodic inventory system. 3. The petty cash fund balance was increased $110 to $335 on April 20