Forney Company maintains a petty cash fund for small expenditures The following transactions occurred over a 2 month period July 1 Established petty cash fund by writing a check on Scranton Bank for $205 00 15 Replenished the petty cash fund by writing a check for $201 20 On this date, the fund consisted of $3 80 in cash and the following petty cash receipts freight out $95 20, postage expense $40 70, entertainment expense $48 00, and miscellaneous expense $14 09 31 Replenished the petty cash fund by writing a check for $196 10 At this date, the fund consisted of $8 90 in cash and the following petty cash receipts freight out $81 20, charitable contributions expense $45 00, postage expense $34 40, and miscellaneous expense $35 50 Aug 15 Replenished the petty cash fund by writing a check for $190 50 On this date, the fund consisted of $14 50 in cash and the following petty cash receipts freight out $75 50, entertainment expense $44 00, postage expense $31 30, and miscellaneous expense $43 30 16 Increased the amount of the petty cash fund to $320 00 by writing a check for $115 00 31 Replenished the petty cash fund by writing a check for $303 50 On this date, the fund consisted of $16 50 in cash and the following petty cash receipts postage expense $138 30, travel expense $95 90, and freight out $67 40 (a)

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Posted on Jun 27, 2024

Forney Company maintains a petty cash fund for small expenditures. The following transactions occurred over a 2-month period.

July 1	Established petty cash fund by writing a check on Scranton Bank for $205.00.
15	Replenished the petty cash fund by writing a check for $201.20. On this date, the fund consisted of $3.80 in cash and the following petty cash receipts: freight-out $95.20, postage expense $40.70, entertainment expense $48.00, and miscellaneous expense $14.09.
31	Replenished the petty cash fund by writing a check for $196.10. At this date, the fund consisted of $8.90 in cash and the following petty cash receipts: freight-out $81.20, charitable contributions expense $45.00, postage expense $34.40, and miscellaneous expense $35.50.
Aug. 15	Replenished the petty cash fund by writing a check for $190.50. On this date, the fund consisted of $14.50 in cash and the following petty cash receipts: freight-out $75.50, entertainment expense $44.00, postage expense $31.30, and miscellaneous expense $43.30.
16	Increased the amount of the petty cash fund to $320.00 by writing a check for $115.00.
31	Replenished the petty cash fund by writing a check for $303.50. On this date, the fund consisted of $16.50 in cash and the following petty cash receipts: postage expense $138.30, travel expense $95.90, and freight-out $67.40.