ZOZ Company maintains a petty cash fund for small expenditures. The following transactions occurred over a 2-month period.

June 1 Established petty cash fund by $110.

June 15 Replenished the petty cash fund by writing a check for 98.7. On this date, the fund consisted of $11.3 in cash and the following petty cash receipts: freight-out $51.00, postage expense $20.50, entertainment expense $23.10, and miscellaneous expense $4.10.

June 31 Replenished the petty cash fund by writing a check for $102.90. At this date, the fund consisted of $7.10 in cash and the following petty cash receipts: freight-out $41.50, charitable contributions expense $20.00, postage expense $30.10, and miscellaneous expense $9.30.

Aug. 16 Increased the amount of the petty cash fund to $150 by writing a check for $40.

Aug. 31 Replenished the petty cash fund by writing a check for $137.00. On this date, the fund consisted of $13 in cash and the following petty cash receipts: freight-out $74.00, entertainment expense $43.20, postage expense $17.70, and miscellaneous expense $5.10.

Required: Journalize Above Transactions

Answer rating: 100% (QA)

Date Journal entry Debit Credit June 1 Petty money 110 Cash 110 June 15 Miscellaneous expe... View the full answer