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

July

$01$ Established petty cash fund by writing a check on China Bank for $$100.$

$15$ Replenished the petty cash fund by writing a check for $$98\mathrm{.}90.$

The petty cash fund consisted of $$1\mathrm{.}10$ in cash and these petty cash receipts:

freight$-$out $...$ $$51\mathrm{.}00,$

postage expense $...$ $$20\mathrm{.}50,$

entertainment expense $...$ $$23\mathrm{.}10,$

miscellaneous expense $...$ $$6\mathrm{.}10.$

Note that the four DR amounts and accounts $($above$)=$ $$100\mathrm{.}70.$ But, the check to replenish petty cash is for $$98\mathrm{.}90($CR CASH$).$ A $$difference$$ results from a cashier making errors giving out cash, or not keeping track of receipts etc. $($Errors are typical$).$ This $$difference$$ is accounted for in the account CASH OVER$/$SHORT $($a separate account from the CASH account$).$

CASH O$/$S may be debited OR credited as needed.

$($If receipts exactly equal the replenishing check $$ give the cashier a great big kiss $$ then get ready for the sexual harassment complaint they$$ll file with HR $($human resources$).$

$31$ Replenished the petty cash fund by writing a check for $$95\mathrm{.}90.$

At this date, the fund consisted of $$4\mathrm{.}10$ in cash and these receipts:

freight$-$out $...$ $$43\mathrm{.}50,$

charitable contributions expense $...$ $$20\mathrm{.}00,$

postage expense $...$ $$20\mathrm{.}10,$

miscellaneous expense $...$ $$12\mathrm{.}30.$

Aug

$15$ Replenished the petty cash fund by writing a check for $$98\mathrm{.}00.$

On this date, the fund consisted of $$2\mathrm{.}00$ in cash and these receipts:

freight$-$out $...$ $$39\mathrm{.}00,$

entertainment expense $...$ $$21\mathrm{.}00,$

postage expense $...$ $$16\mathrm{.}00,$

miscellaneous expense $...$ $$19\mathrm{.}80.$

$16$ Increased the amount of the petty cash fund to $$150$ by writing a check for $$50.$

$31$ Replenished petty cash fund by writing a check for $$143\mathrm{.}00.$

On this date, the fund consisted of $$7$ in cash and these receipts:

freight$-$out $...$ $$94\mathrm{.}00,$

entertainment expense $...$ $$43\mathrm{.}20,$

postage expense $...$ $$7\mathrm{.}70.$

Instructions

$($a$)$ Journalize the petty cash transactions.

working papers

Date Account Titles and Explanation Debit Credit

July $1$

$15$

$31$

Aug $15$

$16$

$31$