Solved: The fund is reimbursed when the cash in the fund is at 15, Accounting Basics

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The fund is reimbursed when the cash in the fund is at 15

Question - Finman Company designated Jill Holland as petty cash custodian and established a petty cash fund of $200. The fund is reimbursed when the cash in the fund is at $15. Petty cash receipts indicate funds were disbursed for office supplies $94 and miscellaneous expense $87. Prepare journal entries for the establishment of the fund and the reimbursement.

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Accounting Basics: The fund is reimbursed when the cash in the fund is at 15

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