Question

Clooney Corp. establishes a petty cash fund for $200 and issues a credit card to its office manager. By the end of the month, employees made one expenditure from the petty cash fund (entertainment, $20) and three expenditures with the credit card (postage, $53; delivery, $78; supplies expense, $43).

Separately record employee credit card expenditures and employee petty cash expenditures. The credit card balance will be paid later. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Answer 1

Answer:

Transaction	General Journal	Debit	Credit
1.	Postage expense	$53
	Delivery expense	$78
	Supplies expense	$43
	Entertainment expense	$20
	Petty cash		$194
2.	Petty cash	$194
	Cash		$194