Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac

Exercise 46

A Petty cash fund
Prepare journal entries for each of the following:
a. Issued a check to establish a petty cash fund of $750.
b. The amount of cash in the petty cash fund is $115. Issued a check to replenish the fund, based on the following summary of petty cash receipts: repair expense, $515 and miscellaneous selling expense, $88. Record any missing funds in the cash short and over account.
B Petty cash fund
Prepare journal entries for each of the following:
a. Issued a check to establish a petty cash fund of $900.
b. The amount of cash in the petty cash fund is $115. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $550 and miscellaneous selling expense, $200. Record any missing funds in the cash short and over account.