Setterstrom Company established a petty cash fund

Setterstrom Company established a petty cash fund

Setterstrom Company established a petty cash fund

Setterstrom Company established a petty cash fund on May 1, cashing a check for $105.00. The company reimbursed the fund on June 1 and July 1 with the following results.June 1: Cash in fund $3.50.Receipts: delivery expense $27.50; postage expense $36.75; and miscellaneous expense $34.45.July 1: Cash in fund $4.00.Receipts: delivery expense $24.25; entertainment expense $46.25; and miscellaneous expense $30.50.On July 10, Setterstrom increased the fund from $105.00 to $135.00.Prepare journal entries for Setterstrom Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCreditMay 1June 1July 1July 10

 

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