Question

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. v (a) 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.) Date Account Titles and Explanation Debit Credit

Answer 1

Aug Credit is Petty Cash Debit $200 cash $200 Aug 15th a Friegh charges $92 Entertainment expenses $45 postage expenses $40 Misc. Expenses $19 petty cash 6 Petty cash $196 $196 visat $196 Aug 16 cash Dette cash $100 $ 100. Aug 31st a) Postage expenses - Entertainment expenses Friegh charges petty cash $138 $92 $53.5 $283.5 Petty cash $16.5 cash $16.5