On April 3,Snappy Sales decides to establish a $135.00 petty cash fund to relieve the burden on Accounting.
(a)Journalize the establishment of the fund.
(b)On April 11,the petty cash fund has receipts for mail and postage of $32.75,contributions and donations of
$25.25,meals and entertainment of $68.00,and $9.75 in cash.Journalize the replenishment of the fund.
(c)On April 12,Snappy Sales decides to increase petty cash to $175.00.Journalize this transaction.
Correct Answer:
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