Question
On April 2, Granger Sales decides to establish a $300 petty cash fund to relieve the burden on Accounting. a. Journalize the establishment of the
On April 2, Granger Sales decides to establish a $300 petty cash fund to relieve the burden on Accounting. a. Journalize the establishment of the fund. If an amount box does not require an entry, leave it blank. Apr. 2 Petty Cash Cash 300 300 b. On April 10, the petty cash fund has receipts for mail and postage of $37, contributions and donations of $20, and meals and entertainment of $119, and $120 in cash. Journalize the replenishment of the fund. If an amount box does not require an entry, leave it blank. Apr. 10 Mail and Postage Expense 37 Contributions and Donations Expense 20 119 Meals and Entertainment Expense Cash Short and Over Cash c. On April 11, Granger Sales decides to increase petty cash to $400. Joumalize this event. If an amount box does not require an entry, leave it blank Apr. 11 Petty Cash Cash 100 100
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