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How do and journalize the entries to record

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Reference no: EM132759406

Problem 1: Journalize the entries to record the following:

a. Cheque No. 1054 is issued to establish a petty cash fund of $700.

b. Cheque No. 1259 is issued to replenish the fund. A summary of the receipts in the fund shows the following: vehicle expense, $173; advertising expense, $69; cash donation expense, $75; cash advance to the owner, $65. There was $329 cash in the fund at the time it was replenished and the company

C. decided to reduce the fund by $200.

Reference no: EM132759406

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