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Prepare the journal entries required to replenish the fund

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Question - Mastery Check - Petty Cash, Bank Reconciliations - A petty cash fund of $150 for Michael Scott Paper Company appeared as follows on December 31, 2018:

Cash $65.55

Petty Cash Receipts:

Freight Out $19.80

Postage Expense 16.00

Entertainment Expense 18.75

Miscellaneous Expense 11.00

Party Planning Expense 20.00

On January 1, 2019, the company increases its petty cash fund to $400.

Required - Prepare the journal entries required to replenish and increase the fund below.

Reference no: EM133146895

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