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Question - On 05/01/19, Smith CPA firm established a imprest petty cash fund for $450.00.
Petty Cash Tickets for the month includethe follwing items: Food & Beverages $85.00; Tips for Delivery Drivers $45,00 , Transit fares $150.00 , Office Supplies $175.00. Cash on hand at 05/31/19 is $15.00.
Required -
1) At 05/01/19, record the entry for the establishment of the fund.
2) At 05/31/ 19, record the entry for the replenishment of the fund.
3) At 05/31/19, record the entry to increase the fund to $550.00.
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