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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 $58.35 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 $260.40
Office Supplies Expense 160.90
Miscellaneous Expense 114.05
Required:Prepare the journal entries necessary to record Crown's petty cash transactions during January.
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