2. Record the vouchers in the petty cash record. Total each column and determine the balance before replenishing the petty cash fund.Petty Cash Payments For The Month Of May 20--Distribution Of PaymentsCharitableTravel andVoucherTotalOfficePostageContributionsPhoneEntertainment MiscellaneousDayDescriptionNumberAmountSuppliesExpenseExpenseExpenseExpenseExpenseAccou1Received in fund$ 200.001.Postage due3 Office supplies25 Auto repair37.J. Adams, Drawing4J. Adams, I11 Donation (Red Cross)15 Travel expenses22 Postage stamps726 Phone call830 Donation (Boy Scouts)31 Balance31 Replenished Fund Petty Cash Record and Journal EntriesOn May 1, a petty cash fund was established for $200.00. The following vouchers were issued during May:Date Voucher No.PurposeAmountMay 1Postage due2$2.90Office supplies11.005Auto repair (miscellaneous)43.004.Drawing (Joy Adams)22.0011Donation (Red Cross)11.00156.Travel expenses26.0022Postage stamps3.40268.Phone call3.00309.Donation (Boy Scouts)21.00Required:1. Prepare the journal entry to establish the petty cash fund.Page:DOC. POST.DATEACCOUNT TITLEDEBITCREDITNO.REF.381 20-- May 121Establish petty cash fund4.

Journal Entries are as follows:

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Business

Accounting

1. Prepare the journal entry to establish the petty cash fund.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

2. Record the vouchers in the petty cash record. Total each column and determine the balance before replenishing the petty cash fund.
Petty Cash Payments For The Month Of May 20--
Distribution Of Payments
Charitable
Travel and
Voucher
Total
Office
Postage
Contributions
Phone
Entertainment Miscellaneous
Day
Description
Number
Amount
Supplies
Expense
Expense
Expense
Expense
Expense
Accou
1
Received in fund
$ 200.00
1.
Postage due
3 Office supplies
2
5 Auto repair
3
7.
J. Adams, Drawing
4
J. Adams, I
11 Donation (Red Cross)
15 Travel expenses
22 Postage stamps
7
26 Phone call
8
30 Donation (Boy Scouts)
31 Balance
31 Replenished Fund

Petty Cash Record and Journal Entries
On May 1, a petty cash fund was established for $200.00. The following vouchers were issued during May:
Date Voucher No.
Purpose
Amount
May 1
Postage due
2$
2.90
Office supplies
11.00
5
Auto repair (miscellaneous)
43.00
4.
Drawing (Joy Adams)
22.00
11
Donation (Red Cross)
11.00
15
6.
Travel expenses
26.00
22
Postage stamps
3.40
26
8.
Phone call
3.00
30
9.
Donation (Boy Scouts)
21.00
Required:
1. Prepare the journal entry to establish the petty cash fund.
Page:
DOC. POST.
DATE
ACCOUNT TITLE
DEBIT
CREDIT
NO.
REF.
38
1 20-- May 1
21
Establish petty cash fund
4.

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