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A Petty Cash Fund for $300 Was Established on May

Question 60

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A petty cash fund for $300 was established on May 1. By the end of the month, the petty cash custodian requested reimbursement of $222 for the following expenditures from the fund: A petty cash fund for $300 was established on May 1. By the end of the month, the petty cash custodian requested reimbursement of $222 for the following expenditures from the fund: Record the entries to a) establish the petty cash fund; b) replenish the fund as of the end of May and c) increase the fund balance to $500. Record the entries to a) establish the petty cash fund; b) replenish the fund as of the end of May and c) increase the fund balance to $500.

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