Journal entry to record petty cash fund
1. Prepare the journal entry to establish the petty cash fund.
At the end of April, the fund had $28 in it. The petty cash custodian presented receipts for
a.Postage, $235
b.Shipping, (Freight-out), $133
c.Meals for after-hour meetings (Miscellaneous Expense), $316
d.Coffee Service (Office Expense), $78
2.The custodian requested reimbursement of $772. Prepare the journal entry to replenish the fund.