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Record the journal entry on february

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Question - Oriole Boxes uses a petty cash imprest system. The fund was established on February 14 with a balance of $110. On February 28, there were $5 cash and the following petty cash receipts in the petty cash box.

Date

Receipt No.

For

Amount

Feb. 15

1

Supplies

$11

Feb. 18

2

Miscellaneous expense

7

Feb. 20

3

Freight in (assume perpetual inventory system)

33

Feb. 21

4

Supplies

15

Feb. 22

5

Delivery charges on outgoing freight

18

Feb. 27

6

Supplies

26

Required -

Record the journal entry on February 14 to establish the petty cash fund.

Record the journal entry on February 28 to replenish the fund and increase the balance to $193.

Reference no: EM131717843

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