Chaney Company has established a petty cash fund for small expenditures.Prepare journal entries for the following transactions (omit explanations).
June 5$\quad$$\quad$$\quad$Estabished a $250 petty cash fund with cash withdrawn from company checking account.
30$\quad$$\quad$$\quad$$\quad$ The petty cash fund has $12 remaining and is replenished. Expenditures for June were $75 for supplies, $60 for meals, $80 for postage, and $25 for freight-in.
July 31$\quad$$\quad$$\quad$The petty cash fund has $24 remaining and is replenished. Expenditures for July were $70 for postage, $45 for charitable contributions, $80 for supplies, and $30 for freight-in.

Question

Chaney Company has established a petty cash fund for small expenditures.Prepare journal entries for the following transactions (omit explanations).
June   5$\quad$$\quad$$\quad$Estabished a $250 petty cash fund with cash withdrawn from company checking account.
30$\quad$$\quad$$\quad$$\quad$ The petty cash fund has $12 remaining and is replenished. Expenditures for June were $75 for supplies, $60 for meals, $80 for postage, and $25 for freight-in.
July 31$\quad$$\quad$$\quad$The petty cash fund has $24 remaining and is replenished. Expenditures for July were $70 for postage, $45 for charitable contributions, $80 for supplies, and $30 for freight-in.

Quizplus · Accepted Answer

The Answer of Chaney Company has established a petty cash fund for small expenditures.Prepare journal entries for the following transactions (omit explanations).
June   5$\quad$$\quad$$\quad$Estabished a $250 petty cash fund with cash withdrawn from company checking account.
30$\quad$$\quad$$\quad$$\quad$ The petty cash fund has $12 remaining and is replenished. Expenditures for June were $75 for supplies, $60 for meals, $80 for postage, and $25 for freight-in.
July 31$\quad$$\quad$$\quad$The petty cash fund has $24 remaining and is replenished. Expenditures for July were $70 for postage, $45 for charitable contributions, $80 for supplies, and $30 for freight-in.

Chaney Company Has Established a Petty Cash Fund for Small \quad

Chaney Company Has Established a Petty Cash Fund for Small $\quad$