The petty cash fund was established at the beginning of, Ask an Expert

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The petty cash fund of Ricco's Automotive contained the following items at the end of September 2011:

currency and coins = $58
receipts for the following expenditures:
delivery charges = $16
printer paper = $11
paper clips and rubber bands = $8
an I.O.U. from an employee = $25
Postage = $32
TOTAL = $150

The petty cash fund was established at the beginning of September with a transfer of $150 from cash to the petty cash account.

Required:

Prepare the journal entry to replenish the fund at the end of September.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M967376

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