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Prepare journal entries for Metlock Company for May

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Question - Metlock 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 $3.30.Receipts: delivery expense $27.80, postage expense $38.20, and miscellaneous expense $38.60.

July 1: Cash in fund $3.90.Receipts: delivery expense $21.85, entertainment expense $52.05, and miscellaneous expense $32.20.

On July 10, Metlock increased the fund from $110 to $140.

Required - Prepare journal entries for Metlock Company for May 1, June 1, July 1, and July 10.

Reference no: EM132734631

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