Question

On May 1 of this year, Ellsworth and Company established a Petty Cash Fund. The following petty cash transactions took place during the month:
May 1 Cashed check no. 956 for $ 150 to establish a Petty Cash Fund and put the $ 150 in a locked drawer in the office.
3 Bought postage stamps, $ 8.80, voucher no. 1 (Miscellaneous Expense).
4 Issued voucher no. 2 for taxi fare, $ 12 (Miscellaneous Expense).
6 Issued voucher no. 3 for delivery charges on outgoing parts, $ 15.
9 B. Ellsworth, the owner, withdrew $ 25 for personal use, voucher no. 4.
13 Paid $ 8.29 for postage, voucher no. 5 (Miscellaneous Expense).
19 Bought pens for office, $ 6, voucher no. 6.
23 Paid $ 3.59 for a box of staples, voucher no. 7.
28 Paid $ 15 for window cleaning service, voucher no. 8 (Miscellaneous Expense).
29 Paid $ 2 for pencils for office, voucher no. 9.
31 Issued for cash check no. 1098 for $ 95.68 to reimburse Petty Cash Fund.

Required
1. Journalize the entry establishing the Petty Cash Fund in the general journal.
2. Record the disbursements of petty cash in the petty cash payments record.
3. Journalize the summarizing entry to reimburse the Petty Cash Fund.



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  • CreatedOctober 21, 2014
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