A petty cash fund was originally established with a check for $100. On August 31, which is the period end, the petty cash fund included the following:
Petty cash receipts:
Postage
$43.50
Office supplies
11.85
Office equipment repair
39.00
Cash
4.25
Prepare the journal entry to record the establishment of the petty cash account.
Prepare the general journal entry to record the replenishment of the petty cash fund on August 31.