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Make the journal entry to record the reimbursement

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Reference no: EM132619849

The petty cash fund of Blue's Auto Repair Service, a sole proprietorship, contains the following.

1. Coins and currency $19.80

2. Postage stamps 7.50

3. An I.O.U. from Richie Cunningham, an employee, for cash advance 44.60

4. Check payable to Blue's Auto Repair from Pottsie Weber, an employee, marked NSF 38.60

5. Vouchers for the following:

Stamps $ 24.60

Two Rose Bowl tickets for Nick Blue 177.00

Printer cartridge (Use the Office Supplies account) 18.95 220.55

$331.05

The general ledger account Petty Cash has a balance of $335.

Problem 1: Prepare the journal entry to record the reimbursement of the petty cash fund. (Round answers to 2 decimal places, e.g. 15.25. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Reference no: EM132619849

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