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The petty cash fund of the brooks agency is established

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Reference no: EM13900787

1. The petty cash fund of the Brooks Agency is established at $ 150. At the end of the current period, the fund contained $ 28 and had the following receipts: film rentals, $ 24, refreshments for meetings, $ 46 (both expenditures to be classified as Entertainment Expense); postage, $ 30; and printing, $ 22. 

Prepare journal entries to record: 

(a) Establishment of the fund 
(b) Reimbursement of the fund at the end of the current period. 2. Identify the two events that cause a Petty Cash account to be credited in a journal entry.

Reference no: EM13900787

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