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The petty cash fund of the Brooks Agency is established at $260. At the end of the current period, the fund contained $189 and had
The petty cash fund of the Brooks Agency is established at $260. At the end of the current period, the fund contained $189 and had the following receipts: film rentals, $14, refreshments for meetings, $28 (both expenditures to be classified as Entertainment Expense); postage, $15; and printing, $14. | |
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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