How to solve 7-10 A P 7-10A (LO3)/ Replenishment: Cr. Cash, $149PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund wasestablished for $150. The following vouchers were issued during May:DateVoucher No.PurposeAmount$ 3.50Postage dueOffice suppliesAuto repair (miscellaneous)Drawing (Joy Adams)Donation (Red Cross)Travel expensesMay 113211.0000043.007425.001110.00156.28.00227Postage stampsPhone call3.50268.5.003096.Donation (Boy Scouts)20.00REQUIRED1. Prepare the journal entry to establish the petty cash fund.2. Record the vouchers in the petty cash record. Total and rule the petty cashrecord.3. Prepare the journal entry to replenish the petty cash fund. Make theappropriate entry in the petty cash record.

PLEASE LIKE THE ANSWER 1 date account title debit $ credit $ 01-May petty cash 150…

PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund was established for $150. The following vouchers were issued during May: Date Voucher No. Purpose Amount Postage due Office supplies Auto repair (miscellaneous) Drawing (Joy Adams) Donation (Red Cross) Travel expenses Postage stamps Phone call $ 3.50 May 1 3 1 11.00 5 3 43.00 4 25.00 11 5 10.00 15 28.00 22 3.50 26 5.00 30 Donation (Boy Scouts) 20.00 REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the vouchers in the petty cash record. Total and rule the petty record. cash 3. Prepare the journal entry to replenish the petty cash fund. Make the appropriate entry in the petty cash resord 6799