Acc557 Financial Accounting: E7-7 LaSalle Company established a petty cash fund

Acc557 Financial Accounting

Exercise 7-7
LaSalle Company established a petty cash fund on May 1, cashing a check for $100. The company reimbursed the fund on June 1 and July 1 with the following results.
June 1: Cash in fund $1.75.
Receipts: delivery expense $31.25; postage expense $41; and miscellaneous expense $25.
July 1: Cash in fund $3.25.
Receipts: delivery expense $21; entertainment expense $51; and miscellaneous expense $24.75.
On July 10, LaSalle increased the fund from $100 to $150.00.

Prepare journal entries for LaSalle Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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