Question

Journalize the entries to record the following:
a. Cheque No. 356 is issued to establish a petty cash fund of $500.
b. Cheque No. 429 is issued to replenish the fund. A summary of the receipts in the fund shows the following: office supplies, $176; delivery charges, $120; cash advance to an employee, $75; cash advance to the owner for lunch with his spouse, $50. At the time the fund was replenished, it had $79 cash remaining.


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  • CreatedSeptember 15, 2015
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