Petty Cash Fund

Prepare journal entries for each of the following:

a$.$ Issued a check to establish a petty cash fund of $$500.$ If an amount box does not require an entry, leave it blank.

Petty Cash $x$

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a$.$ Recall that the only time Petty Cash is used is when the fund is initially established or increased.

b$.$ The amount of cash in the petty cash fund is $$85.$ Issued a check to replenish the fund, based on the following summary of

petty cash receipts: store supplies, $$360$ and miscellaneous selling expense, $$40.$ Record any missing funds in the cash short

and over account. If an amount box does not require an entry, leave it blank.