May 1 Prepared a company check for $450 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1.

a. Paid $160 for janitorial services.
b. Paid $120 for miscellaneous expenses.
c. Paid postage expenses of $80.
d. Paid $41 to The County Gazette (the local newspaper) for an advertisement.
e. Counted $63 remaining in the petty cash box.

May 16 Prepared a company check for $150 to increase the fund to $600.
May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15.

f. Paid postage expenses of $205.
g. Reimbursed the office manager for business mileage, $103.
h. Paid $34 to deliver merchandise to a customer, terms FOB destination.
May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $480.

Required:
Journalize the entries.

Journal Entries:

May 1 Debit Petty Cash $450

Credit Cash $450

To establish the petty cash fund.

May 15 Debit Petty Cash $387

Credit Cash $387

To replenish the fund for expenses.

a. Debit Janitorial Expenses $160

Credit Petty Cash $160

b. Debit Miscellaneous expenses $120

Credit Petty Cash $120

c. Debit Postage expenses $80

Credit Petty Cash $80

d. Debit Advertisement $41

Credit Petty Cash $41

e. Debit Petty Cash $14

Credit Cash overage $14

To recognize the cash overage.

May 16 Debit Petty Cash $150

Credit Cash $150

To increase the petty cash fund to $600.

May 31 Debit Petty Cash $360

Credit Cash $360

To replenish the fund for expenses.

f. Debit Postage expenses $205

Credit Petty Cash $205

g. Debit Transport expense $103

Credit Petty Cash $103

h. Debit Freight-out $34

Credit Petty Cash $34

Debit Shortage $18

Credit Petty Cash $18

May 31 Debit Cash $120

Credit Petty Cash $120

To reduce the petty cash fund to $480.

Explanation:

a) Data and Analysis:

May 1 Petty Cash $450 Cash $450

May 15 Petty Cash $387  Cash $387

a. Janitorial Expenses $160 Petty Cash $160

b. Miscellaneous expenses $120 Petty Cash $120

c. Postage expenses $80 Petty Cash $80

d. Advertisement $41 Petty Cash $41

e. Petty Cash $14 Cash overage $14

May 16 Petty Cash $150 Cash $150

May 31 Petty Cash $360 Cash $360

f. Postage expenses $205 Petty Cash $205

g. Transport expense $103 Petty Cash $103

h. Freight-out $34 Petty Cash $34

Shortage $18 Petty Cash $18

May 31 Cash $120 Petty Cash $120

idk the answer so dont listen to me but 23