Petty Cash Exercise
Name: __________________________________ Date: __________________
Petty Cash Exercise
On March 1, 20x1, Sherry Jones established a petty cash fund. The following petty cash transactions occurred during the month:
Mar.
1. Sherry established the petty cash fund in the amount of $60.
2. Issued Voucher No. 1 for postage due on a package, $3
3. Issued Voucher No. 2 for postage due on a package, $3.50
4. Issued Voucher No. 3 to have a spot removed from the carpet, $15 (Miscellaneous Expense)
5. Issued Voucher No. 4 for the purchase of pens for the office, $9.45
6. Issued Voucher No. 5 for the purchase of a box of staples, $2.95
7. Issued Voucher No. 6 for the purchase of stamps $8.40
8. Issued Voucher No. 7 for the purchase of office supplies, $7.50
9. Issued Voucher No. 8 for postage due on a package, $0.74
31. Replenished the fund
Journalize the entry to establish the petty cash fund
Record the disbursements from the petty cash fund in the petty cash payments record
Complete the petty cash record – total, rule, and set up for the next month
Journalize the entry to replenish the fund.
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