Question

T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of April, the fund has a cash balance of $97. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items:

Required:

 1. Record the establishment of the petty cash fund on April 3.

 2. Record credit card expenditures during the month. The credit card balance is paid in full on April 30.

 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

No.	Date	Account Titles and Explanation	Debit	Credit
1	April 03	Petty Cash	$200
		Cash		$200
2	April 30	Utilities Expenses	$435
		Repairs and Maintenance Expense	$630
		Cash                    [$435 + $630]		$1,065
3	April 30	Entertainment Expense	$44
		Postage Expense	$59
		Cash                    [$44 + $59]		$103