Accounting for petty cash [10-15 min]
Karen’s Dance Studio created a $370 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows:
| Pretty Cash Ticket No. | Item | Account Debited | Amount |
| 1 | Delievery of programs to customers | Delivery expense | $ 25 |
| 2 | Mail package | Postage expense | 15 |
| 3 | News letter | Supplies expense | 35 |
| 4 | Key to closet | Misscellaneous expense | 55 |
| 5 | Computer jump drive | Supplies expense | 80 |
Requirement
1. Make the general journal entries to
a. create the petty cash fund and
b. record its replenishment. Cash in the fund totals $147, so $13 is missing. Include explanations.
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