Question

The petty cash fund of Ricco's Automotive contained the following items at the end of September 2021:

Currency and coins $58
Receipts for the following expenditures:
Delivery charges $16
Printer paper 11
Paper clips and rubber bands 8 35
Lent money to an employee 25
Postage 32
Total $150

The petty cash fund was established at the beginning of September with a transfer of $150 from cash to the petty cash account.

Required:
Prepare the journal entry to replenish the fund at the end of September.

Answer 1

Date Account titles and Explanation Debit Credit

Sep 30 Delivery expenses $16

Offices supplies $19

Postage expenses $32

Receivables from employees $25

Cash $92

(To record replenishment of petty cash fund)