The following petty cash transactions of Lexite Laminated Surfaces occurred in August:
Aug 1 Established a petty cash fund with a $300 balance.
31 The petty cash fund has $29 in cash and $284 in petty cash tickets that were issued to pay for Office supplies ($104) and Entertainment expense ($180). Replenished the fund with $271 of cash and recorded the expense.
Requirement R1. Prepare journal entries without explanations