Treatment of petty cash and journal entry.
A petty cash fund was originally established with a check for $150. In the petty cash fund on December 31 (the period-end), you find the following:
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Petty cash receipts:
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Postage........................................................
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$44.5
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|
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Office supplies.............................................
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50.85
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|
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Office equipment repair..............................
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48
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|
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Cash.............................................................
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4.25
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Prepare the general journal entry to record the replenishment of the petty cash fund on December 31. Make sure you put a complete account description. If I have to guess what type of account you put down, it will be marked incorrect.