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Please help with the adjusting entires for the petty cash. Thank you! Lyle Company maintains a petty cash fund for small expenditures. These transactions occurred
Please help with the adjusting entires for the petty cash. Thank you!
Lyle Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 Established the petty cash fund by writing a check on Westown Bank for $210. 15 Replenished the petty cash fund by writing a check for $180. On this date, the fund consisted of $30 in cash and these petty cash receipts: freight-out $69.40, entertainment expense $31.00, postage expense $28.70 and miscellaneous expense $47.51. 16 Increased the amount of the petty cash fund to $410 by writing a check for $200 31 Replenished the petty cash fund by writing a check for $288. On this date, the fund consisted of $122 in cash and these petty cash receipts: postage expense $140.00, entertainment expense $105.05, and freight-out $41.40Step by Step Solution
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