On April 1,Year 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:
$\begin{array}{llr}
\text {Office supplies } &\$58\
\text { Overtime meals } &61\
\text { Postage } &75\
\text { Miscellaneous } &31
\end{array}$

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,Year 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:
 $\begin{array}{llr}
  \text {Office supplies  } &\$58\
 \text { Overtime meals } &61\
 \text { Postage } &75\
 \text { Miscellaneous } &31
\end{array}$
 
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,Year 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:
 $\begin{array}{llr}
  \text {Office supplies  } &\$58\
 \text { Overtime meals } &61\
 \text { Postage } &75\
 \text { Miscellaneous } &31
\end{array}$
 
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,Year 1,a Company Established a Petty Cash Fund