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Exercise 8-7 Setterstrom Company established a petty cash fund on May 1, cashing a check for $105, The company reimbursed the fund on June 1
Exercise 8-7 Setterstrom Company established a petty cash fund on May 1, cashing a check for $105, The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $2.95. Receipts: delivery expense $29.60, postage expense $37.70, and miscellaneous expense $32.00 uly 1: Cash in fund $5.40. Receipts: delivery expense $19.25, entertainment expense $47.65, and miscellaneous expense $32.70 On July 10, Setterstrom increased the fund from $105 to $135. Prepare journal entries for Setterstrom Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit June 1 July 1 LIST OF ACCOUNTS
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