Petty Cash
Illustrative Entry

 

Establish Petty Cash Fund

1-31-X4

Petty Cash

  

 1,000

  
 

          Cash

    

1,000
  To establish a $1,000 petty cash fund      

Replenish Petty Cash Fund

2-28-X4

Supplies Expense

  

 390

  
 

Fuel Expense

  

155

  
 

Miscellaneous Expense

  

70

  
 

          Cash

    

615
  To replenish petty cash; receipts on hand of $615 -- office supplies ($390), gasoline ($155), coffee and drinks ($70).  Remaining cash in the fund was $385, bringing the total to $1,000 ($615 + $385).