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Present entries to record the following transactions: (a) Established a petty cash fund of $200.00. (b) The petty cash fund now has a balance of
Present entries to record the following transactions:
(a) | Established a petty cash fund of $200.00. | ||||||||||||||||||||||||||||||||||||||||
(b) | The petty cash fund now has a balance of $42.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies, $74.50; miscellaneous administrative expense, $92.75; and miscellaneous selling expense, $18.60. | ||||||||||||||||||||||||||||||||||||||||
(c) | Increased the petty cash fund to $300.00.
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