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Prepare general journal entry to record the reimbursement

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Reference no: EM132471785

Problem - The Crown Company established a $1,000 petty cash fund by issuing a cheque to the custodian on October 1. On October 15, the petty cash fund was replenished and increased to $1,500. The contents of the petty cash fund prior to the October 15 replenishment were:

Currency and coins

 

$112

Petty cash receipts for:

 

 

Transportation-in

$137

 

Delivery expense

240

 

Repairs to office equipment

153

 

Postage

230

 

Entertainment of customers

130

890

Total

 

$1,002

Required - Prepare the general journal entry to record the reimbursement and increasing of the fund on October 15.

Reference no: EM132471785

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