(Solved): 8. The following petty cash transactions of Grayson Golf Equipment occurred in May May 1 Establishe ...

8. The following petty cash transactions of Grayson Golf Equipment occurred in May May $1$ Established a petty cash fund with a $\$150$ balance. May 31 The petty cash fund has $\$24$ in cash and $\$114$ in petty cash tickets that were issued to pay for Office Supplies (\$14) Delivery Expense (\$34). Postage Expense (\$63) and Miscellaneous Expense (\$3). The pelty cash custodian replenished the fund and recorded the expenses Prepare joumal entries. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Journalize the establishment of the petty cash fund Joumalize the replenishment of the fund