Setterstrom Company established a petty cash fund on May 1, cashing a check for $100.00. The company reimbursed the fund on June 1 and July 1 with the following results.
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June 1: Cash in fund $1.75.
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Receipts: delivery expense $31.25; postage expense $39.00; and miscellaneous expense $25.00. |
| July 1: Cash in fund $3.25. |
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Receipts: delivery expense $21.00; entertainment expense $51.00; and miscellaneous expense $24.75. |
On July 10, Setterstrom increased the fund from $100.00 to $130.00.
Prepare journal entries for Setterstrom Company.