Setterstrom Company established a petty cash fund on May 1, cashing a check for $100. The company reimbursed the fund on June 1 and July 1 with the following results.
- June 1: Cash in fund $1.75, Receipts: delivery expense $31.25, postage expense $39.00, and miscellaneous expense $25.00.
- July 1: Cash in fund $3.25, Receipts: delivery expense $21.00, entertainment expense $51.00, and miscellaneous expense $24.75.
- Only July 10, Setterstrom increased the fund from $100 to $130.
Instructions
Prepare journal entries for Setterstrom Company for May 1, June 1, July 1, and July 10.
Solution
Setterstrom Company
Journal Entries
Journal Entries
