Petty Cash Fund Prepare journal entries for each of the following. For a compound transaction,...
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Accounting
Petty Cash Fund
Prepare journal entries for each of the following. For a compound transaction, if an amount box does not require an entry, leave it blank.
a. Issued a check to establish a petty cash fund of $650.
b. The amount of cash in the petty cash fund is $210. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $255 and miscellaneous selling expense, $163. Record any missing funds in the cash short and over account. For a compound transaction, if an amount box does not require an entry, leave it blank.
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