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Please complete journal entries for May 15, 16, & 31 (x2) too Kiona Co. set up a petty cash fund for payments of small amounts.
Please complete journal entries for May 15, 16, & 31 (x2) too
Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year). May 1 Prepared a company check for $300 to establish the petty cash fund. 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. a. Paid $93.60 for janitorial expenses. b. Paid $76.41 for miscellaneous expenses. c. Paid postage expenses of $52.20. d. Paid $68.58 to Facebook for advertising expense. e. Counted $23.01 remaining in the petty cashbox. 16 Prepared a company check for $200 to increase the fund to $500. 31 The petty cashier reports that $349.32 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. f. Paid postage expenses of $53.73. g. Reimbursed the office manager for mileage expense, $42.78. h. Paid $44.17 in delivery expense for products to a customer, terms FOB destination. 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving a total of $450. Journal entry worksheet 1 2 3 4 5 > Prepared a company check for $300 to establish the petty cash fund. Note: Enter debits before credits. General Journal Debit Date May 01 Credit 300.00 Petty cash Record entry Clear entry View general journalStep by Step Solution
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