Question

A small company maintains a petty cash fund for minor expenditures. In June and July 2011,...

A small company maintains a petty cash fund for minor expenditures. In June
and July 2011, the following transactions took place:
a. The fund was established in the amount of $100.00 on June 1 from the pro- ceeds of check no. 2707.
b. On June 30, the petty cash fund had cash of $15.46 and the following receipts on hand: postage, $40.00; supplies, $24.94; delivery service, $12.40; and rub- ber stamp, $7.20. Check no. 2778 was drawn to replenish the fund.
c. On July 31, the petty cash fund had cash of $22.06 and these receipts on hand: postage, $34.20; supplies, $32.84; and delivery service, $6.40. The petty cash custodian could not account for the shortage. Check no. 2847 was drawn to replenish the fund.
Prepare entries in journal form necessary to record each transaction.
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