A company established a petty cash fund in May of the current year and experienced the following transactions affecting the fund during May:
May 1 Establish petty cash account in the amount of $300.
May 5 Paid for miscellaneous office supplies in the amount of $53.22.
May 9 Reimbursed Human Resource Manager for business lunch,$45.09.
May 15 Paid for minor landscaping services,$75.
May 22 Paid $65.00 for postage.
May 31 Counted remaining cash and discovered that $56.34 remained.
The company decided to increase the petty cash balance to $450.Prepare the journal entry to increase the fund on May 31.

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The Answer of A company established a petty cash fund in May of the current year and experienced the following transactions affecting the fund during May:
May 1 Establish petty cash account in the amount of $300.
May 5 Paid for miscellaneous office supplies in the amount of $53.22.
May 9 Reimbursed Human Resource Manager for business lunch,$45.09.
May 15 Paid for minor landscaping services,$75.
May 22 Paid $65.00 for postage.
May 31 Counted remaining cash and discovered that $56.34 remained.
The company decided to increase the petty cash balance to $450.Prepare the journal entry to increase the fund on May 31.

A Company Established a Petty Cash Fund in May of the Current