Petty Cash Fund Entries

Journalize the entries to record the following:

Check No. 245-13 is issued to establish a petty cash fund of $1,300.

The amount of cash in the petty cash fund is now $481. Check No. 271-13 is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $475; miscellaneous selling expense, $197; miscellaneous administrative expense, $123.

a. Journalize the entry to establish the petty cash fund.

	Petty Cash
	Cash

b. Journalize the entry to replenish the petty cash fund. For a compound transaction, if an amount box does not require an entry, leave it blank.