15. ABC replenished the petty fund by writing a check for 195. On this date, the fund consisted of 5 on hand and the following petty cash receipts :freight- in 94, postage expense 42.40, entertainment expense 44.60, and miscellaneous expense 11.90.
Journalize the petty cash transactions.
The petty cash transactions can be journalized as follows:
1. To replenish petty cash:
Debit: Petty Cash Replenishment Expense: 195
Credit: Cash: 195
2. To record freight-in expense paid from petty cash:
Debit: Freight-in Expense: 94
Credit: Petty Cash: 94
3. To record postage expense paid from petty cash:
Debit: Postage Expense: 42.40
Credit: Petty Cash: 42.40
4. To record entertainment expense paid from petty cash:
Debit: Entertainment Expense: 44.60
Credit: Petty Cash: 44.60
5. To record miscellaneous expense paid from petty cash:
Debit: Miscellaneous Expense: 11.90
Credit: Petty Cash: 11.90