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Problem 13 15 points The Bozo School for Clowns established a $1,000 Petty Cash fund on January 2, 2014. At the end of January, Petty Cash fund included cash of $940.75 and receipts for the following expenditures: $22.75 for freight, $7.65 postage and $24.85 office Supplies. Give the following journal entries: A) To establish the Petty Cash fund. B) To reimburse the Petty Cash fund at the end of January. C) It was decided that $1,000 was too much money in the Petty Cash fund. Management wants the Petty Cash Fund balance reduced to $250.

Problem 13 15 points

The Bozo School for Clowns established a $1,000 Petty Cash fund on January 2, 2014.

At the end of January, Petty Cash fund included cash of $940.75 and receipts for the following expenditures: $22.75 for freight, $7.65 postage and $24.85 office Supplies.

Give the following journal entries:

A) To establish the Petty Cash fund.

B) To reimburse the Petty Cash fund at the end of January.

C) It was decided that $1,000 was too much money in the Petty Cash fund. Management

wants the Petty Cash Fund balance reduced to $250.

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