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T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of April, the fund has a cash
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of April, the fund has a cash balance of $97. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: $ 435 44 Utilities (credit card) Entertainment (petty cash) Stamps (petty cash) Plumbing repair services (credit card) 59 630 Required: 1. Record the establishment of the petty cash fund on April 3. 2. Record credit card expenditures during the month. The credit card balance is paid in full on April 30. 3. Record petty cash expenditures during the month. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is complete but not entirely correct. General Journal No Credit Date April 03 Debit 200 Petty Cash Cash 200 2 April 30 Utilities Expense Repairs and Maintenance Expense Accounts Payable 435 630 4352 1,065 3 April 30 Entertainment Expense Postage Expense Petty Cash 44 59 103
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