On September 1, a company established a petty cash fund of $130. On September 10, the petty cash fund was replenished when there was $31 remaining and there were petty cash receipts for supplies, $33, and postage, $60. On September 15, the petty cash fund was increased to $170. Required: Prepare the journal entries, if any, required on September 1, September 10, and September 15. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

See the explanation below

Explanation:

1. On September 1

                                                                      DR ($)             CR ($)

Petty cash account                                           130

Cash account                                                                          130

Being the petty cash fund establishment amount.

2. On September 10

                                                                      DR ($)             CR ($)

Petty cash account                                          99

Cash account                                                                          99

Being the amount used to replenish the petty cash fund.

Supplies                                                            33

Postage                                                             60

Petty Cash Account                                                                93

Being the amount paid for supplies and postage

3. On September 15

                                                                      DR ($)             CR ($)

Petty cash account                                           133

Cash account                                                                          133

Being addition of the amount used to replenish ($93) and increase ($40) petty cash fund to $170.

Note:

1. On September 10, replenishment amount is $130 - $31 = $99.

2. On September 15, replenishment amount is the addition $93 already spent and additional $40 to increase the petty fund to $170.

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