Prepare the journal entries for the following petty cash transactions of Allen Coffee Shop

Sept. 10 Established a petty cash fund with a $300 balance.
Sept

30 The petty cash fund has $105 in cash and $200 in petty cash tickets there were issued to pay for Delivery Expense ($115 ) and Postage Expense ($85 ). Replenished the fund and recorded the expenditures.
Oct. 15 Decreased the balance of the petty cash fund to $250.

What will be an ideal response


Sept. 10 Petty Cash 300
Cash 300

Sept. 30 Delivery Expense 115
Postage Expense 85
Cash Short & Over 5
Cash 195

Oct. 15 Cash 50
Petty Cash 50

Business

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