On April 1, a company established a petty cash fund for $300. By the end of the month, the petty cash custodian requested reimbursement of $225 for the following expenditures from the fund: Record the entries to a) establish the petty cash fund; and b) replenish the fund and recognize expenses at the end of April.

Question

On April 1, a company established a petty cash fund for $300. By the end of the month, the petty cash custodian requested reimbursement of $225 for the following expenditures from the fund:  Record the entries to a) establish the petty cash fund; and b) replenish the fund and recognize expenses at the end of April.

Quizplus · Accepted Answer

The Answer of On April 1, a company established a petty cash fund for $300. By the end of the month, the petty cash custodian requested reimbursement of $225 for the following expenditures from the fund:  Record the entries to a) establish the petty cash fund; and b) replenish the fund and recognize expenses at the end of April.

On April 1, a Company Established a Petty Cash Fund