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Exercise 7-7 Pina Colada Company established a petty cash fund on May 1, cashing a check for $125. The company reimbursed the fund on June
Exercise 7-7 Pina Colada Company established a petty cash fund on May 1, cashing a check for $125. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash In fund $3.25. Receipts: delivery expense $28.95, postage expense $37.30, and miscellaneous expense $52.55. July 1: Cash in fund 54.85. Receipts: delivery expense $18.90, entertainment expense $52.95, and miscellaneous expense $48.30. On July 10, Pina Colada increased the fund from $125 to $155. Prepare journal entries for Pina Colada Company. (Credit accountles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 2 decimal places g. 52.75.) Date Account Titles and Explanation Debit Credit June 1 July 1
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