On July 1, 2024, Cromartie Furniture established a $150 petty cash fund. A check for $150 was made out to the petty cash custodian. During July, the petty cash custodian paid the following bills from the petty cash fund: Office supplies $ 36 Postage 22 Delivery charges 40 Bottled water 28 Total $ 126 At the end of July the petty cash fund was replenished. The journal entry to establish the petty cash fund includes:

On July 1, 2024, Cromartie Furniture established a $150 petty cash fund. A check for $150 was made out to the petty cash custodian. During July, the petty cash custodian paid the following bills from the petty cash fund: Office supplies $ 36 Postage 22 Delivery charges 40 Bottled water 28 Total $ 126 At the end of July the petty cash fund was replenished. The journal entry to establish the petty cash fund includes:

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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Office supplies	$ 36
Postage	22
Delivery charges	40
Bottled water	28
Total	$ 126

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