May 1 The Company Established A Petty Cash Fund Of 200 28 The Petty Cash Fund Wa

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an imprest basis. The following a list activities relating to petty cash the month May. The correct May journal entry

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May 1 The company established a petty cash fund of $200. 28 The petty cash fund was replenished. A count of the fund before it wasreplenished showed the following: Cash on Hand Quantity Denomination 1 $20.00 1 10.00 2 5.00 9 1.00 1 .50 10 .25 15 .10 9 .05 25 .01 VouchersCharlie’s Office Supply Company $30.90Postage due receipts 19.00Fred’s Freight Company 41.23Business Machine Repair Company 53.4731 Because of the small amount of cash left at the end of the month, a check was drawn to increase the fund’s balance by $100.

 
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