Alanda Yousef Bookkeeping Services has only a general journal in its accounting system and uses it to record all the transactions. However the company recently set up a petty cash fund for payment of small items. The  following petty cash transactions were noted by the petty cashier as occurring during March:

Required
Prepare journal entries to record the establishment of the fund on March 1 and its replenishment on April 1.

Transcribed Image Text:

Mar. 01 31 Received a company cheque for $250 to establish a petty cash fund. Received a company cheque to replenish the fund for the following expenses. Purchases made since March 1: a. Purchased office supplies, $63.50 b. Purchased postage stamps, $45 c. Paid $75 for cleaning services d. Paid $40 for donation to United Way e. Paid $5.75 for parking 31 Counted the petty cash remaining, which totalled $16.25.