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Nguyen Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May. es May 1 Prepared a company check for $500 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. a. Paid $178 for janitorial services. b. Paid $134 for miscellaneous expenses. c. Paid postage expenses of $89. d. Paid $45 to Facebook for advertising expense. e. Counted $65 remaining in the petty cash box. May 16 Prepared a company check for $200 to increase the fund to $700. May 31 The petty cashier reports that $280 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 $244. g. Reimbursed the office manager for business mileage, $122. h. Paid $40 to deliver merchandise to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $160, leaving a total of $540. Requirement General Journal General Ledger Trial Balance Impact on Income Prepare the journal entries for each of the petty cash transactions. View transaction list Journal entry worksheet Prepared a company check to replenish the fund for the following expenditures made since May 1: $178 for janitorial services; $134 for miscellaneous expenses; postage expenses of $89; and $45 to Facebook for advertising expense. Counted $65 remaining in the petty cash box. Note: Enter debits before credits. Date Account Title Credit May 15 Janitorial expenses Debit 178 134 89 Miscellaneous expenses Postage expenses Advertising expense Cash over and short Cash 45 Journal entry worksheet | 5 The petty cashier reports that $280 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15: postage expenses of $244, reimbursed the office manager for business mileage, $122; and $40 to deliver merchandise to a customer, terms FOB destination. Note: Enter debits before credits. Date Account Title Credit Debit 244 May 31 . 122 Postage expenses Mileage expense Delivery expense Cash over and short Cash 40 Dates: May 01 to: May 31 Impact transaction has on income: Amount of increase (decrease) Transaction May 1) Prepared a company check for $500 to establish the petty cash fund. May 15) Prepared a company check to replenish the fund for the following expenditures made since May 1: $178 for janitorial services, $134 for miscellaneous expenses, postage expenses of $89, $45 to Facebook for advertising expense. Counted $65 remaining in the petty cash box. Net income decreased by: Net income increased by: Net income was unchanged May 16 Prepared a company check for $200 to increase the fund to $700. May 31 The petty cashier reports that $280 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15: postage expenses of $244, business mileage, $122, $40 to deliver merchandise to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $160, leaving a total of $540
