Journalize the Following Transactions (10pts)

On June 1 of this year, Duck and Jives established a Petty Cash Fund for $125. The petty cash analysis sheet showed the following totals at the end of the month:

Automobile expense $18.00

Travel expense 13.50

Drawing 40.00

Phone expense 8.12

Office Supplies 14.23

Postage expense 6.20

$100.05

At the end of June the petty cash fund had a balance of $24.95 and the fund was replenished.

Pretend you have a general journal and record the journal entries to establish the petty cash fund at the beginning of the month and to reimburse the petty cash fund. Make sure to make it obvious which accounts are being debited and credited.

Example:

April 1 Cash 3,000

A/R 3,000