On October 1, 2022, Ellis Company establishes an imprest petty cash fund by issuing a check for $150 to Pat Harmon, the custodian of the petty cash fund. On October 31, 2022, Pat Harmon submitted the following paid petty cash receipts for replenishment of the petty cash fund when there is $12 cash in the fund: $\begin{array}{lr}
\text { Delivery Expense } & \$ 25 \
\text { Supplies Expense } & 32 \
\text { Entertainment of Clients } & 55 \
\text { Postage Expense } & 24
\end{array}$ Instructions
Prepare the journal entries required to establish the petty cash fund on October 1 and the replenishment of the fund on October 31.

Question

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The Answer of On October 1, 2022, Ellis Company establishes an imprest petty cash fund by issuing a check for $150 to Pat Harmon, the custodian of the petty cash fund. On October 31, 2022, Pat Harmon submitted the following paid petty cash receipts for replenishment of the petty cash fund when there is $12 cash in the fund: $\begin{array}{lr}
\text { Delivery Expense } & \$ 25 \
\text { Supplies Expense } & 32 \
\text { Entertainment of Clients } & 55 \
\text { Postage Expense } & 24
\end{array}$ Instructions
Prepare the journal entries required to establish the petty cash fund on October 1 and the replenishment of the fund on October 31.

On October 1, 2022, Ellis Company Establishes an Imprest Petty