Petty cash
Response to the following problem:
The petty cash fund of Ricco's Automotive contained the following items at the end of September 2016:
| Currency and coins |
|
$58 |
|
Receipts for the following expenditures
|
|
|
|
Delivery charges
|
$16
|
|
|
Printer paper
|
11
|
|
|
Paper clips and rubber bands
|
8
|
35
|
|
An I.O.U. from an employee
|
|
25
|
|
Postage
|
|
32
|
|
Total
|
|
$150
|
The petty cash fund was established at the beginning of September with a transfer of $150 from cash to the petty cash account.
Required:
Prepare the journal entry to replenish the fund at the end of September.