(Answered) Loucks company established a 200 petty cash fund on october

Accounting

Loucks Company established a $200 petty cash fund on October 2, 2011. The fund is replenished at the end of each month. At the end of October 2011, the fund contained $37 in cash and the following receipts:

Office supplies ..... $76
Lunch with client ... 48
Postage ....... 20
Miscellaneous ..... 19

Required:

Prepare the necessary general journal entries to establish the petty cash fund on October 2 and to replenish the fund on October 31.

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