Petty Cash Exercise

Instructions: Provide the Journal entries for the following transactions.

a$.$ Allied Plumbing Supply establishes a petty cash fund of $$250$ on January $1.$ The petty cash fund will be replenished whenever the fund reaches a balance of $$20$ or less.

b$.$ On February $10,$ the fund is replenished and the following receipts for items paid out of the petty cash fund are recorded: office supplies, $$34$; postage, $$28$; store supplies, $$62$; a minor repair on office equipment, $$102$; and the cost to Federal Express to send an urgent letter, $$10.$ The current balance in the fund is $$10.$

add more. On March $1,$ Allied Plumbing Supply increases the balance of the petty cash fund to $$350.$ funds