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Prepare journal entries for Establishment of Petty Cash Fund

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Reference no: EM132566351

Question - The following Petty Cash transactions took place at Artemis Marketing during the month of August (ignore GST):

1 August Established a petty cash float for $250

31 August Petty Cash count confirmed balance of $61.80 remaining

Receipts for the following presented for the month of August:

Staff Amenities $ 38.80

Taxi Fares $ 72.00

Postage $ 77.40

REQUIRED - Prepare journal entries for:

a. Establishment of the Petty Cash fund

b. Reimbursement of Petty Cash for August expenses

Narrations are not required.

Reference no: EM132566351

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