Journalization question Aug. 1 Established the petty cash fund by writing a chec
ID: 2378835 • Letter: J
Question
Journalization question
Aug. 1 Established the petty cash fund by writing a check on Westown Bank for $222. 15 Replenished the petty cash fund by writing a check for $186. On this date, the fund consisted of $36 in cash and these petty cash receipts: freight-out $63.40, entertainment expense $25.00, postage expense $22.70 and miscellaneous expense $71.88. 16 Increased the amount of the petty cash fund to $422 by writing a check for $200. 31 Replenished the petty cash fund by writing a check for $294. On this date, the fund consisted of $128 in cash and these petty cash receipts: postage expense $134.00, entertainment expense $122.63, and freight-out $35.40. Journalize the petty cash transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Post to the Petty Cash account. (Post entries in the order of journal entries posted in part 1.)Explanation / Answer
1. DR Petty Cash 222
CR Cash 222
2. DR Freight out 63.40
DR Entertainment expense 25.00
DR Postage 22.70
DR Misc expenses 71.88
DR Cash over and short 3.02
CR Cash 186.00
3. DR Petty Cash 200
CR Cash 200
4. DR Postage expense 134.00
DR Entertainment expense 122.63
DR Freight out 35.40
DR Cash over and short 1.97
CR Cash 294.00
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