Question: LaSalle Company established a petty cash fund on May 1

LaSalle Company established a petty cash fund on May 1, cashing a check for $100.
The company reimbursed the fund on June 1 and July 1 with the following results.
June 1: Cash in fund $1.75. Receipts: delivery expense $31.25; postage expense $41.00; and miscellaneous expense $25.00.
July 1: Cash in fund $3.25. Receipts: delivery expense $21.00; entertainment expense $51.00; and miscellaneous expense $24.75.
On July 10, LaSalle increased the fund from $100 to $150.

Instructions
Prepare journal entries for LaSalle Company for May 1, June 1, July 1, and July 10.


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  • CreatedDecember 29, 2012
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