Create journal entries for petty cash transactions

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Reference no: EM131263138

Create Journal Entries for the Following Petty Cash Transactions

1-Jun Company check written for $500 to establish a petty cash fund.

5-Jun Company check written to Petty Cash for $250 to paid to gas.

10-Jun One company check written for all June 10th reimbursements: Paid for postage of $32.75

10-Jun Paid for $200 for gasoline

10-Jun Paid $52.50 for meals

10-Jun Paid $20 for donation

10-Jun Paid $7.50 for parking fees

15-Jun Company check written to Petty Cash for $300 paid for gasoline

20-Jun Company check written to Petty Cash for $400 paid for gasoline

21-Jun Company check written to increase Petty Cash fund to $1,000

22-Jun One company check written for all June 10th reimbursements: Paid for postage of $25.25

22-Jun Paid $600 for gasoline

22-Jun Paid $125 for meals

22-Jun Paid $35 for office supplies

22-Jun Paid $10 for parking fees

22-Jun Petty cash fund counted and found that there was $195.45 in the fund. Adjustment made to bring fund to $1,000

30-Jun Company decided $1,000 is too large for the Petty Cash fund. The fund is reduced to $750.

Reference no: EM131263138

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