Problem - Petty Cash Fund
Prepare journal entries for each of the following. For a compound transaction, if an amount box does not require an entry, leave it blank.
a. Issued a check to establish a petty cash fund of $800.
b. The amount of Cash In the petty cash fund Is $260. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $315 and miscellaneous selling expense, $200. Record any missing funds in the cash short and over account. Foe a compound transaction, if an amount box does not require an entry, leave it blank.