Question

 Halle's Berry Farm establishes a $400 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $312 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items:

 Entertainment for office party (petty cash)   $88

 Lawn maintenance (credit card)                  118

 Postage (credit card)                                 73

 Fuel for deliveries (credit card)                   83

 Required:

 1. Record the establishment of the petty cash fund on September 4.

 2. Record credit card expenditures during the month. The credit card balance is not yet paid.

 3. Record petty cash expenditures during the month.

 (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Answer 1

Date	General Journal	Debit	Credit
Sep 04	Petty Cash	$400
	Cash		$400
	(To record the establishment of petty cash fund)
Sep 30	Repairs and Maintenance expense	$118
	Postage expense	$73
	Delivery expense	$83
	Accounts payable		$274
Sep 30	Entertainment expense	$88
	Petty Cash		$88