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Question 2 (12 marks) Browns Business established a $400 petty cash fund on July 1. During the month of July, petty cash was issued in exchange for the following receipts July 2 Supplies. July 7Courier... July 10 Postage $ 65 10 52 Page 1

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General Journal Debit 400 Credit Date July 01 Petty Cash as 400 To record establishment of petty cash fund July 31 Supplies Courier ($10 $60) Postage (S52 $20) Advertising Cash Short and Over 65 70 72 57 52 as 316 To replenish petty cash fund) July 31 Petty Cash 100 as 100 To increase petty cash fund

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