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Magic moments inc. established a $250 petty cash fund on November 1, 2023. At the end of the month, the fund contained $10 in cash,
Magic moments inc. established a $250 petty cash fund on November 1, 2023. At the end of the month, the fund contained $10 in cash, as well as receipts for the following transactions: $55 for office supplies, $30 for automobile expenses, $45 for postage, $65 for delivery charges for merchandise sold to a local firm and $50 for building maintenance. On December 1, 2023, the company decided to decrease the petty cash fund to $100. Prepare the journal entry to reimburse the fund on November 30, 2023
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