Prepare the journal entry to establish the petty cash fund

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Reference no: EM131212958

Petty Cash: On October 1, 2011, Thomas Trams established a $100 petty cash fund. At the end of October the petty cash fund contained: Cash on hand $3.75 - Petty cash tickets for Entertainment $55.40 Postage 25.80 Miscellaneous items 18.30 Required: a) Prepare the journal entry to establish the petty cash fund on October 1, 2011. b) Prepare the journal entry on October, 2011, to replenish the petty cash fund. c) Assume on October 31, 2011, after replenishing the petty cash fund, Thomas Trams desires to increase the petty cash fund to $150. Prepare the necessary journal entry.

Reference no: EM131212958

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Prepare the journal entry to establish the petty cash fund : Petty Cash: On October 1, 2011, Thomas Trams established a $100 petty cash fund. At the end of October the petty cash fund contained: Cash on hand $3.75 - Petty cash tickets for Entertainment $55.40 Postage 25.80 Miscellaneous items 18.30 Required: P..

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