Dow Electronics established a petty cash fund to pay for small,incidental expenditures incurred at the office.The fund is handled by a trustworthy custodian.At the end of the month,the fund is replenished.On September 30,the petty cash fund contained $13 in cash and the following receipts:
$$\begin{array} { l r }
\text { Office supplies } & \$ 87 \
\text { Delivery fees } & 35 \
\text { Repairs } & 67 \
\text { Postage } & 48
\end{array}$$
Record journal entries to: a)establish the petty cash fund; b)replenish the fund and recognize expenses at the end of September; and c)increase the fund balance to $300.

Question

Dow Electronics established a petty cash fund to pay for small,incidental expenditures incurred at the office.The fund is handled by a trustworthy custodian.At the end of the month,the fund is replenished.On September 30,the petty cash fund contained $13 in cash and the following receipts:
 $$\begin{array} { l r } 
\text { Office supplies } & \$ 87 \
\text { Delivery fees } & 35 \
\text { Repairs } & 67 \
\text { Postage } & 48
\end{array}$$ 
Record journal entries to: a)establish the petty cash fund; b)replenish the fund and recognize expenses at the end of September; and c)increase the fund balance to $300.

Quizplus · Accepted Answer

The Answer of Dow Electronics established a petty cash fund to pay for small,incidental expenditures incurred at the office.The fund is handled by a trustworthy custodian.At the end of the month,the fund is replenished.On September 30,the petty cash fund contained $13 in cash and the following receipts:
 $$\begin{array} { l r } 
\text { Office supplies } & \$ 87 \
\text { Delivery fees } & 35 \
\text { Repairs } & 67 \
\text { Postage } & 48
\end{array}$$ 
Record journal entries to: a)establish the petty cash fund; b)replenish the fund and recognize expenses at the end of September; and c)increase the fund balance to $300.

Dow Electronics Established a Petty Cash Fund to Pay for Small,incidental