Business, 19.06.2020 11:57 francisco42002

Journalize the entries to record the following: Check is issued to establish a petty cash fund of $750.
The amount of cash in the petty cash fund is now $176.
Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $248; miscellaneous selling expense, $212; miscellaneous administrative expense, $96. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $750,
Record the discrepancy in the cash short and over account.) .
a. Journalize the entry to establish the petty cash fund.
b. Journalize the entry to replenish the petty cash fund.

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