Coronado Company established a petty cash fund on May 1, cashing a check for $105....
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Coronado 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 1: Cash in fund $3.25. Receipts: delivery expense $30.50, postage expense $38.75, and miscellaneous expense $30.00. July 1: Cash in fund $5.75. Receipts: delivery expense $22.00, entertainment expense $47.05, and miscellaneous expense $30.20. On July 10, Coronado increased the fund from $105 to $135. Prepare journal entries for Coronado Company for May 1, June 1, July 1, and July 10. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 52.75.) Date Account Titles and Explanation Debit Credit May 1 Petty Cash 105.00 Cash 105.00 June 1 Delivery Expense 30.50 Postage Expense 38.75 Miscellaneous Expense 30.00 Cash Over and Short Cash 101.75 July 1 Delivery Expense 22.00 Entertainment Expense 47.05 Miscellaneous Expense 30.20 Cash 99.25 July 10 Petty Cash 30.00 Cash 30.00 Save for Later Last saved 14 minutes ago. Attempts: 0 of 1 used Submit
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