Question

Florence’s Florals, a retail business, started a $250 petty cash fund on June 1. Below are descriptions of the transactions to establish the petty cash fund, disburse petty cash during June, and replenish the petty cash fund on June 30. DATE TRANSACTIONS June 1 Issued Check 550 for $250 to establish a petty cash fund. 5 Paid $30 from the petty cash fund for office supplies, Petty Cash Voucher 1. 8 Paid $31 from the petty cash fund for postage stamps, Petty Cash Voucher 2. 15 Paid $18 from the petty cash fund for delivery service, Petty Cash Voucher 3. 22 Paid $40 from the petty cash fund to the owner, Rosa Calderon, for her personal use, Petty Cash Voucher 4. 25 Paid $30 from the petty cash fund to have the store windows washed, Petty Cash Voucher 5. 29 Paid $47 from the petty cash fund for delivery service, Petty Cash Voucher 6. 30 Issued Check 590 for $196 to replenish the petty cash fund. Required: Record the transaction to establish the petty cash fund on June 1 in a general journal. Record all transactions on a petty cash analysis sheet. Record the transaction to replenish the petty cash fund on June 30 in the general journal.

Answer 1

Answer:

See the attached for the answer and explanation

Explanation:

Petty cash fund is a fund that is set aside to pay for small expenses like stamps, transport, and others.

Find attached the full answer.