Question

Exercise 8-07 Waterway Company established a petty cash fund on May 1, cashing a check for $105. The company reimbursed the fund on June 1 and July 1 with the following results. June 11 Cash in fund $3.00. Receipts delivery expense $28.00. postage expense $37.80, and miscellaneous expense $33.45. July 11 Cash in fund $4.70. Receipts delivery expense $21.45, entertainment expense $50.25, and miscellaneous expense $28.60. On July 10, Waterway increased the fund from $105 to $135.00 Prepare joumal entries for Waterway Company for May 1. June 1, July 1, and July 10. (Credit account titles are automatically indented when amount is entered. Do journal entries in the order presented in the problem.) Date Account Titles and Explanation May 1 Y Petty Cash Delivery Expense Postage Expense Miscellaneous expense Cash Over and Short Cash (105-3.00) July 1 July 20 Click if you would like to show Work for this question: She Wars SHOW LIST OF ACCOUNTS

Answer 1

		Debit	Credit
May 1	Petty Cash	105
	Cash		105
June 1	Delivery Expenses	28.00
	Postage Expenses	37.80
	Miscellaneous Expenses	33.45
	Cash Over and Short	2.75
	Cash		102.00
July 1	Delivery Expenses	21.45
	Entertainment Expenses	50.25
	Miscellaneous Expenses	28.60
	Cash		100.30
July 10	Petty Cash	30.00
	Cash		30