On November 1,a company established a $90 petty cash fund.On November 12,the petty cash fund contains $3 in cash and the following paid petty cash receipts: transportation-in on merchandise inventory $14.25; postage,$34.50; and office supplies,$36.The company uses a perpetual inventory system.Prepare the entry to reimburse the fund and to increase its amount to $150 on November 12.

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The Answer of On November 1,a company established a $90 petty cash fund.On November 12,the petty cash fund contains $3 in cash and the following paid petty cash receipts: transportation-in on merchandise inventory $14.25; postage,$34.50; and office supplies,$36.The company uses a perpetual inventory system.Prepare the entry to reimburse the fund and to increase its amount to $150 on November 12.

On November 1,a Company Established a $90 Petty Cash Fund