EX 8-24 Petty cash fund entries

Journalize the entries to record the following:
a. Check is issued to establish a petty cash fund of $750.

b. The amount of cash in the petty cash fund is now $176. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $248; miscellaneous selling expense, $212; miscellaneous administrative expense, $96. 
(Because the amount of the check to replenish the fund plus the balance in the fund do not equal $750, record the discrepancy in the cash short and over account.)


Answer:
a. 
Petty Cash 750
                 Cash 750
b. 
Office Supplies                      248
Miscellaneous Selling Expense        212
Miscellaneous Administrative Expense  96
Cash Short and Over                   18
         Cash                                 574