Working Backward: Petty Cash Fund
Denison Corp. established a petty cash fund at the beginning of the current month. At the end of the month, the amount of coin and currency on hand was $65.50. Denison recorded the following entry at the end of the current month to replenish the petty cash fund:
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Jan. 31
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Postage Expense
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44.00
|
|
|
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Delivery Expense
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49.70
|
|
|
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Entertainment Expense
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22.40
|
|
|
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Office Supplies Expense
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66.20
|
|
|
|
Cash Over and Short
|
2.20
|
|
|
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Cash
|
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184.50
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Requireda
To record replenishment of petty cash fund.
Determine the amount of the check written at the beginning of the month to establish the fund.