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Prepare journal entries for setterstrom company

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Reference no: EM131810569

Setterstrom Company established a petty cash fund on May 1, cashing a check for $120.00. The company reimbursed the fund on June 1 and July 1 with the following results.

June 1: Cash in fund $2.75.

  

Receipts: delivery expense $27.00; postage expense $37.75; and miscellaneous expense $49.70.

July 1: Cash in fund $4.75.

  

Receipts: delivery expense $19.50; entertainment expense $51.50; and miscellaneous expense $44.25.

On July 10, Setterstrom increased the fund from $120.00 to $150.00.

Prepare journal entries for Setterstrom Company

Reference no: EM131810569

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