Reference no: EM133066747

Question - Sunland Company maintains a petty cash fund for small expenditures. The following transactions occurred over a two-month period:

Feb. 1 Established petty cash fund by writing a cheque on Algonquin Bank for $200.00.

Feb. 15 Replenished the petty cash fund by writing a cheque for $195.00. On this date the fund consisted of $5.00 in cash and the following petty cash receipts:

Freight out $82.00

Postage expense 73.00

Entertainment expense 36.80

Feb. 28 Replenished the petty cash fund by writing a cheque for $152.00. At this date, the fund consisted of $48.00 in cash and the following petty cash receipts:

Freight out $42.20

Entertainment expense 25.00

Repairs expense 41.70

Supplies 45.00

Mar. 15 Replenished the petty cash fund by writing a cheque for $187.00. On this date, the fund consisted of $13.00 in cash and the following petty cash receipts:

Freight out $37.50

Entertainment expense 53.85

Postage expense 33.55

Supplies 67.00

Mar. 16 Increased the amount of the petty cash fund to $250.00 by writing a cheque for $50.00.

Mar. 31 Replenished the petty cash fund by writing a cheque for $234.00. On this date, the fund consisted of $16.00 in cash and the following petty cash receipts:

Postage expense $40.00

Travel expense 75.20

Freight out 47.30

Entertainment expense 68.00

Required - Journalize the petty cash transactions.