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Prepare the journal entries for the following petty cash transactions of Hank Gaming Supplies: Aug. 1 Aug. 31 Sep. 15 Established a petty cash
Prepare the journal entries for the following petty cash transactions of Hank Gaming Supplies: Aug. 1 Aug. 31 Sep. 15 Established a petty cash fund with a $300 balance. The petty cash fund has $29 in cash and $277 in petty cash tickets that were issued to pay for Office Supplies ($157) and Entertainment Expense ($120). Replenished the fund and recorded the expenses. Increased the balance of the petty cash fund to $350. Prepare journal entries. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Journalize the establishment of the petty cash fund. Date Aug. 1 Accounts and Explanation Debit Credit
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