On May 1, a petty cash fund was established for $150. The following vouchers were issued during May: Date Voucher No. Purpose Amount May 1 1 postage due $ 3.50 3 2 office supplies 11.00 5 3 auto repair (miscellaneous) 43.00 7 4 drawing (Joy Adams) 25.00 11 5 donation (Red Cross) 10.00 15 6 travel expenses 28.00 22 7 postage stamps 3.50 26 8 telephone call 5.00 30 9 donation (Boy scouts) 20.00 reQUireD 1. Prepare the journal entry to establish the petty cash

Answer rating: 100% (QA)

particulars debit credit postage expense 700 ... View the full answer