a. Issued a check to establish a petty cash fund of $1,150.
b. The amount of cash in the petty cash fund is $250. Issued a check to replenish the fund, based on the following summary of petty cash receipts: repair expense, $725 and miscellaneous selling expense, $150. Record any missing funds in the cash short and over account.
Answer:
a.
Petty Cash 1,150
Cash 1,150
b.
Repairs Expense 725
Miscellaneous Selling Expense 150
Cash Short and Over 25
Cash 900