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  3. 2uestion 5 anada company had the following petty

2uestion 5 anada Company had the following petty cash transactions during March:...

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Accounting

2uestion 5
anada Company had the following petty cash transactions during March:
Established the petty cash fund for $130 on March 1.
On March 31, the cash box had $28 worth of cash in it and the $98 worth of receipts for the following expenditures: Postage for $36, Transportation-in for $43, and repairs for $19. The company also wants to increase the petty cash fund to a total of $150.
equired:
a) Prepare the journal entry to establish the fund.
b) Prepare the journal entry to reimburse the fund.
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