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E8-7 Setterstrom Company established a petty cash fund on May 1, cashing a check for $100. The company reimbursed the fund on June 1 and
E8-7 Setterstrom Company established a petty cash fund on May 1, cashing a check for $100. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $1.75. Receipts: delivery expense $31.25. postage experise $39.00, and miscellaneous expense $25.00 July 1:Ceh in fund $3.25. Receipts: delivery expense $21.00, entertainment experese $51.00, and miscellaneous expense $24.75. On July 10, Setterstrom increased the fund from $100 to $130. Instructions Prepare journal entries for Setterstrom Company for May 1, June 1, July 1, and July 10
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