Mountain Air Company established a 290 petty cash fund on Ja

Mountain Air Company established a $290 petty cash fund on January 1. From January 2 through 15, payments were made from the fund, as listed below. On January 17, the fund was replenished with a check for $230 a. January 3-Paid cash for deliveries to customers-$61 b. January 8-Paid cash to restaurant for catering office lunch-$119 c. January 15-Paid cash for supplies -$50 Required: Prepare the journal entry, If any, required for January. (If no entry is required for a transaction/event, select \"No Journal Entry Required\" in the first account field.) View transaction list View journal entry worksheet O Record the establishment of petty cash. Record from January 2 through 15, payments were made from the fund. On January 17, the fund was replenished with a check for $230. Record the transaction. 3

Solution

Date Account Titles and Explanation Debit Credit Jan. 1 Petty Cash 290 Cash 290 (To record establishment of petty cash fund) Jan.2 - Jan. 15 No journal entry required Jan. 17 Delivery expenses 61 Office expenses 119 Supplies 50 Cash 230 (To record replenishment of petty cash fund)