Response to the following problem:
Establishing and replenishing a petty cash fund
Journalize the following transactions completed during November of the current year.The abbreviation for check is C.
Transactions: Nov. 5. Paid cash to establish a petty cash fund, $300.00. C527.
30. Paid cash to replenish the petty cash fund, $165.00: supplies, $57.00; miscellaneous expense, $58.00; repairs, $40.00; postage (Postage Expense), $10.00. C555.