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Question - Blue Spruce Company established a petty cash fund on May 1 for $110. The company reimbursed the fund on June 1 and July 1 with the following results.
June 1: Cash in fund $3.45. Receipts: delivery expense $29.20, postage expense $37.75, and miscellaneous expense $37.60.
July 1: Cash in fund $3.55. Receipts: delivery expense $19.80, entertainment expense $49.25, and miscellaneous expense $37.40.
On July 10, Blue Spruce increased the fund from $110 to $140.
Required - Prepare journal entries for Blue Spruce Company for May 1, June 1, July 1, and July 10.
On January 2, 2018, the first year of operations, Brunswick Corp. issued 15,000 shares of $10 par value common stock for $15 per share. On July 1, 2018, 2,000.
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Borat Company gives annual bonuses after the end of the year.
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