Tie-Dye T-Shirt Co. established a petty cash fund of $675 on May 1, 2015. The petty cash is replenished when the cash on hand is less than $200. On May 16, the petty cash on hand was $170.23. The following receipts were found in the cash box:
1. 25 kg of elastic bands, $293.73 (Inventory).
2. Office supply store receipts, $85.90.
3. Gas receipts for company delivery trucks, $106.58.
On May 31, the petty cash on hand was $190.88. The following receipts were found in the cash box:
1. Receipts from a grocery store for coffee, creamer, and sugar, $53.59.
2. Found receipt from May 3 for office supplies, $18.56.
3. Gas receipts for company trucks, $93.51.
4. Receipt for 100 T-shirts from competitor to fill emergency customer order, $337.02.
Instructions
Journalize the necessary entries.