Clooney Corporation establishes a petty cash fund for $225 and issues a credit card to...
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Accounting
Clooney Corporation establishes a petty cash fund for $225 and issues a credit card to its office manager. By the end of the month, employees made one expenditure from the petty cash fund (entertainment, $25 ) and three expenditures with the credit card (postage, \$60; delivery, \$85; supplies expense, \$50). Separately record employee credit card expenditures and employee petty cash expenditures. The credit card balance will be paid later. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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