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Lily Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 (a) 15 16 31 Established
Lily Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 (a) 15 16 31 Established the petty cash fund by writing a check payable to the petty cash custodian for $205. Replenished the petty cash fund by writing a check for $200.40. On this date, the fund consisted of $4.60 in cash and these petty cash receipts: freight-out $92, entertainment expense $45.80, postage expense $43.80, and miscellaneous expense $16.90. Increased the amount of the petty cash fund to $325 by writing a check for $120.00. Replenished the petty cash fund by writing a check for $308.30. On this date, the fund consisted of $16.70 in cash and these petty cash receipts: postage expense $142.00, entertainment expense $92.20, and freight-out $73.00. Journalize the petty cash transactions. (List all debit entries before credit entries. 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
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