Petty Cash Fund Entries Journalize the entries to record the following: a. Check is issued to establish a petty cash fund of $1,290. b. The amount of cash in the petty cash fund is now $303. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $427; miscellaneous selling expense, $365; miscellaneous administrative expense, $165. If the amount of the check to replenish the fund plus the balance in the fund do not equal $1,290, record the discrepancy in the cash short and over account. a. Journalize the entry to establish the petty cash fund. If an amount box does not require an entry, leave it blank. Petty Cash Cash 1.290 1.290 Feedback Y Check My Work a. Recall that the only time Petty Cash is used is when the fund is initially established or increased. b. Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry, leave it blank. Office Supplies 427 Miscellaneous Selling Expense 365 Miscellaneous Administrative Expense 165 V Cash Short and Over 1.290 X 1.290 X Cash 1.290 X 1.290 X b. Journalize the entry to replenish the petty cash fund. If an amount box does not require an entry, leave it blank. Office Supplies Miscellaneous Selling Expense 427 365 Miscellaneous Administrative Expense 165 Cash Short and Over 1.290 X 1.290 X Cash 1.290 X 1.290 X Feedback Check My Work b. Remember that at all times, the petty cash and/or receipts must equal the amount in the petty cash fund. Therefore, to replenish the fund, you add all receipts removed from petty cash and subtract that from the amount that should be in the fund. Any difference will be used as a balancing figure for the Cash Short and Over account. In making the journal entry. Petty Cash is not debited when the fund is replenished. Instead, the accounts affected by the petty cash disbursemen are debited Feedback Check My Work