Business, 21.03.2020 11:15, longoriafaithe09

Sandhill, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April.
1. On April 1, it established a petty cash fund in the amount of $232.
2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows. Delivery charges paid on merchandise purchased $70 Supplies purchased and used 35 Postage expense 43 I. O.U. from employees 27 Miscellaneous expense 46 The petty cash fund was replenished on April 10. The balance in the fund was $2.
3. The petty cash fund balance was increased $110 to $342 on April 20. Prepare the journal entries to record transactions related to petty cash for the month of April.

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Sandhill, Inc. decided to establish a petty cash fund to help ensure internal control over its small...