Petty Cash Fund: Petty cash fund the amount of money provided for day to day small expenses depending upon the level of business. All the expenses are made by paying cash; hence there is an important need to maintain control over petty cash fund. To Prepare: The Journal entries to record the establishment of Petty Cash fund, reimbursement of the fund, and increase in the fund

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Chapter 8, Problem 9E

To determine

Concept Introduction:

Petty Cash Fund:

Petty cash fund the amount of money provided for day to day small expenses depending upon the level of business. All the expenses are made by paying cash; hence there is an important need to maintain control over petty cash fund.

To Prepare:

The Journal entries to record the establishment of Petty Cash fund, reimbursement of the fund, and increase in the fund

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