The following petty cash transactions of Grayson Gaming Supplies occurred in March: Established a petty cash fund with a $150 balance.
The petty cash fund has $14 in cash and $148 in petty cash tickets that were issued to pay for Office supplies ($58) and Entertainment expense ($90). Replenished the fund with $136 of cash and recorded the expenses.
Mar 1 Established a petty cash fund with a $150 balance.
31 The petty cash fund has $14 in cash and $148 in petty cash tickets that were issued to pay for Office supplies ($58) and Entertainment expense ($90). Replenished the fund with $136 of cash and recorded the expenses.
Requirement
1. Prepare journal entries without explanations.