Question

Part 1 is already complete:I just need Part 2:

Problem 8-03A a-b (Part Level Submission) (Video) Crane Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $200. 15 Replenished the petty cash fund by writing a check for $197.00. On this date, the fund consisted of $3.00 in cash and these petty cash receipts: freight-out $92.00, entertainment expense $45.00, postage expense $40.00, and miscellaneous expense $19.00. 16 Increased the amount of the petty cash fund to $300 by writing a check for $100.00. 31 Replenished the petty cash fund by writing a check for $284.50. On this date, the fund consisted of $15.50 in cash and these petty cash receipts: postage expense $138.00, entertainment expense $92.00, and freight-out $53.50. (a) Your answer is correct. Journalize the petty cash transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) Debit Credit Date Aug. 1 Account Titles and Explanation Petty Cash 200.00 Ī Cash 200.00 Aug. 15 Freight-Out Entertainment Expense 45.00 T Postage Expense 40.000 Miscellaneous Expense 19.000 Cash Over and Short 1.00|| Cash 197.00 Aug. 16 TPetty Cash 11 00.00 Cash T 100.00 Aug. 31 | Postage Expense Entertainment Expense 92.0011 Freight-Out Cash Over and Short Cash 284.50

Thank you in advance!

Answer 1

T account

Aug. 1	200
Aug. 16	100
	300

The balance of Petty cash is 300$