Crown Company established a petty cash fund of $600 for incidental expenditures on January 2 At the end of the month, the count of cash on hand indicated that $56 35 remained in the fund A sorting of petty cash vouchers disclosed that the following expenses had been incurred during the month, and the fund was replenished Postage Expense $250 40 Office Supplies Expense 160 90 Miscellaneous Expense 124 05 Required Prepare the journal entries necessary to record Crowns petty cash transactions during January CHART OF ACCOUNTS Crown Company General Ledger ASSETS 111 Cash 114 Petty Cash 121 Accounts Receivable 141 Inventory 152 Prepaid Insurance 181 Equipment 198 Accumulated Depreciation LIABILITIES 211 Accounts Payable 231 Salaries Payable 250 Unearned Revenue 261 Income Taxes Payable EQUITY 311 Common Stock 331 Retained Earnings REVENUE 411 Sales Revenue EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense 535 Office Supplies Expense 536 Postage Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses 600 Cash Short and Over 910 Income Tax Expense

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Crown Company established a petty cash fund of $600 for incidental expenditures on January 2. At the end of the month, the count of cash

Crown Company established a petty cash fund of $600 for incidental expenditures on January 2. At the end of the month, the count of cash on hand indicated that $56.35 remained in the fund. A sorting of petty cash vouchers disclosed that the following expenses had been incurred during the month, and the fund was replenished.

Postage Expense	$250.40
Office Supplies Expense	160.90
Miscellaneous Expense	124.05

Required:

Prepare the journal entries necessary to record Crowns petty cash transactions during January.

CHART OF ACCOUNTS

Crown Company

General Ledger

	ASSETS
111	Cash
114	Petty Cash
121	Accounts Receivable
141	Inventory
152	Prepaid Insurance
181	Equipment
198	Accumulated Depreciation

	LIABILITIES
211	Accounts Payable
231	Salaries Payable
250	Unearned Revenue
261	Income Taxes Payable

	EQUITY
311	Common Stock
331	Retained Earnings

	REVENUE
411	Sales Revenue

	EXPENSES
500	Cost of Goods Sold
511	Insurance Expense
512	Utilities Expense
521	Salaries Expense
532	Bad Debt Expense
535	Office Supplies Expense
536	Postage Expense
540	Interest Expense
541	Depreciation Expense
559	Miscellaneous Expenses
600	Cash Short and Over
910	Income Tax Expense