On August 3, Sonar Sales decides to establish a $275 petty cash fund to relieve the burden on Accounting. (a) Journalize the establishment of this fund.* (b) On August 11, the petty cash fund has receipts for mail and postage of $124.75, contributions and donations of $53.25, meals and entertainment of $63.85, and $32.75 in the ending cash balance. Journalize the replenishment of the fund.* (c) On August 12, Sonar Sales decides to increase petty cash to $400. Journalize this transaction.*

Q: Please see image

A: Introduction: Petty Cash Fund is Created and used for payment of small amounts of expenditures…

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A: Please find the answers to the above questions below:

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A: Pass necessary journal entry to record replenishment of cash fund.

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A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

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A: Petty Cash means A small amount of money kept in an office to pay for small items.

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A: Note: Since you have asked multiple question, we will solve the first question for you. If you want…

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A: The answer is as fallows

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Q: petty cash fund. Di

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A: Please find the answer to the above questions below:

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A: the correct option with necessary working are as follows

Q: 1. Brooks Agency set up a petty cash fund for $140. At the end of the current period, the fund…

A: Answer:- Petty cash is a small amount of cash that is kept on hand by a business or organization to…

Q: On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on…

A: Introduction: Journals: Recording of  a business transactions in a chronological order. First step…

Q: On September 30, Hector’s petty cash fund of $100 is replenished. At the time, the cash box…

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.