Question

During October, Sandhill Company experiences the following transactions in establishing a petty cash fund.

Oct. 1		A petty cash fund is established with a check for $147.00 issued to the petty cash custodian.
31		A check was written to reimburse the fund and increase the fund to $197.00. A count of the petty cash fund disclosed the following items:

Currency				$59.00
Coins				2.15
Expenditure receipts (vouchers):
Supplies		$24.65
Miscellaneous items		14.95
Postage		38.25
Freight-Out		5.35

Journalize the entries in October that pertain to the petty cash fund. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Oct. 1	enter an account title for the journal entry on October 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on October 1	enter a debit amount	enter a credit amount
Oct. 31	enter an account title for the journal entry on October 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on October 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on October 31	enter a debit amount	ente a credit amount
	enter an account title for the journal entry on October 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on October 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on October 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on October 31	enter a debit amount	enter a credit amount

Answer 1

Date	Account Titles and Explanation	Debit	Credit
Oct-01	Petty Cash	$ 147
	Cash		$ 147
	(To establish the petty cash account)
Oct-31	Supplies	$ 24.65
	Miscellaneous Expense	$ 14.95
	Postage Expense	$ 38.25
	Freight -Out	$ 5.35
	Cash over and short - Bal. Fig.	$ 2.65
	Petty Cash ( $ 197 (-) $ 147 )	$ 50
	Cash              ( $ 197 (-) $ 59 (-) $ 2.15)		$ 135.85
	(To record the reimbursement )