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QS 8-4 Petty cash accounting LO P2 1. The petty cash fund of the Brooks Agency is established at $80. At the end of the
QS 8-4 Petty cash accounting LO P2 1. The petty cash fund of the Brooks Agency is established at $80. At the end of the current period, the fund contained $6 and had the following receipts: entertainment, $38; postage, $28; and printing, $8. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period.
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