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Treatment of petty cash and journal entry.
A petty cash fund was originally established with a check for $150. In the petty cash fund on December 31 (the period-end), you find the following:
Petty cash receipts:
Postage........................................................
$44.5
Office supplies.............................................
50.85
Office equipment repair..............................
48
Cash.............................................................
4.25
Prepare the general journal entry to record the replenishment of the petty cash fund on December 31. Make sure you put a complete account description. If I have to guess what type of account you put down, it will be marked incorrect.
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