Question

 A company establishes a petty cash fund on August 3 for $490. The fund is replenished at the end of each month. The company has also issued a credit card for its office manager to make more substantial purchases. At the end of August, the following purchases have been made:

 Record the establishment of the petty cash fund on August 3. On August 31, record the petty cash expenditures during the month and the employee credit card expenditures during the month. Note: the credit card balance will not be paid until the following month. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Answer 1

	Date	Account title and explanation	Debit	Credit
1	Aug 3	Petty cash	$ 490
		Cash		$ 490
		[To open the petty cash fund]
2	Aug 31	Delivery fees	$ 125
		Plumbing maintenance	$ 76
		Postage	$ 41
		Flowers for the office	$ 53
		Cash		$ 295
		[To replenish the petty cash fund]
3	Aug 31	Equipment	$ 1,700
		Advertising	$ 850
		Supplies	$ 470
		Accounts Payable		$ 3,020
		[To record the credit card expenses]