Question

Prepare the journal entries for the following petty cash transactions of hink gaming supplies November 1st established a pity cash fun with 150 ballots the limber thirtieths the petty cash bond has $14 in cash and 148 in pity cash tickets that were issued to pay for office supplies $8 entertainment expenses 140 replenished the fond and recorded the expenses December 15th increases the balance of the pity cash fund to $250

Answer 1

Date	Accounts Title and Explanations	Debit (in $)	Credit (in $)
November 1	Petty Cash	$ 150
	Cash		$ 150
	(To record the establishment of Petty Cash fund)
November 31	Office Supplies Expense	$ 8
	Entertainment Expense	$ 140
	Cash over and short              (Bal. Fig.)		$ 12
	Cash             ($150 (-) $ 14)		$ 136
	(To record the replinishment of Petty cash Fund)
December 15	Petty Cash ($ 250 (-) $ 150)	$ 100
	Cash		$ 100
	(To record the increase in Petty cash Fund)