Assignment Instructions

1.Prepare the journal entry to establish the petty cash fund.

2.Prepare a petty cash payments report for April with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense.

3.Prepare the journal entries for part 2 to both (a) reimburse and (b) increase the fund amount. Stanley Marks had the following petty cash transactions in April of the current year.

Apr 2

Write a $300 check to establish a petty cash fund.

Apr 4

Purchased paper and other supplies for the office for $48.20 that is immediately used.

Apr 10

Paid $35.20 for coffee and muffins for a weekly meeting with the staff.

Apr 12

Paid $20.15 postage to courier a special order to a customer.

Apr 14

Reimbursed Susan Snow, the manager, $60 for travel expenses for her trip to see visit customers.

Apr 28

Paid the cleaning staff $100 for the month.

Apr 30

The fund had $36.45 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures.

Apr 30

The petty cash fund amount is increased by $100 to a total of $400.

Length/Formatting Instructions

Font12 point , Calibri Font Program/File Type Submit in Word or Excel File NameLastname_firstname_A01_M7 Assignment