Business, 25.03.2021 22:50, drice517

Petty Cash Record and Journal Entries On May 1, a petty cash fund was established for $153.00. The following vouchers were issued during May: Date Voucher No. Purpose Amount May 1 1 postage due $ 3.10 3 2 office supplies 13.00 5 3 auto repair (miscellaneous) 46.00 7 4 drawing (Joy Adams) 24.00 11 5 donation (Red Cross) 9.00 15 6 travel expenses 23.00 22 7 postage stamps 2.90 26 8 phone call 7.00 30 9 donation (Boy Scouts) 22.00 Required: 1. Prepare the journal entry to establish the petty cash fund. If an amount box does not require an entry, leave it blank. 2. Record the vouchers in the petty cash record. Total each column to determine the balance before replenishing the petty cash fund. When required, enter amounts in dollars and cents. 3. Prepare the journal entry to replenish the petty cash fund. Then record the amount in the petty cash record in part 2. If an amount box does not require an entry, leave it blank.

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Petty Cash Record and Journal Entries On May 1, a petty cash fund was established for $153.00. The f...