The petty cash fund of Fonzarelli's Auto Repair Service, a sole proprietorship, contains the following.

1.	Coins and currency		$15.20
2.	Postage stamps		2.90
3.	An I.O.U. from Richie Cunningham, an employee, for cash advance		40.00
4.	Check payable to Fonzarelli?s Auto Repair from Potpie Weber, an employee marked NSF		34.00
5.	Vouchers for the following:
	Stamps	$20.00
	Two Rose Bowl tickets for Nick Fonzarelli	170.00
	Printer cartridge	14.35	204.35
			$296.45

The general ledger account Petty Cash has a balance of $300.

Prepare the journal entry to record the reimbursement of the petty cash fund.

Petty cash is often used for companies that have a physical storefront presence. It involves cash currency kept on hand for small day to day expenses (e.g. stamps) and to collect small cash transactions from customers.