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Present entries to record the following transactions:

a. Established a petty cash fund of $235.
b. The petty cash fund now has a balance of $42.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies, $74.50; miscellaneous administrative expense, $92.75; and miscellaneous selling expense, $18.60.
c. Increased the petty cash fund to $300.

Sagot :

ayokenny2001

Answer:

Please see below

Explanation:

a.

Dr Petty cash. $235

Cr Cash $235

b.

Dr Office supplies. $74.5

Dr Miscellaneous Administrator expenses $92.75

Dr Miscellaneous selling expenses $18.60

Dr Cash short and over $6.35

Cr. Cash $192.20

C.

Dr Petty cash $65

Cr. Cash $65

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