This exercise continues the Lawlor Lawn Service situation from previous exercise. During June, Lawlor Lawn Service decided that it needed a petty cash fund. Lawlor started the fund by cashing a check from her business bank account for 200. At the end of June, Lawlor had123 in the petty cash fund. She also had three receipts, as shown:
a. Receipt for 45 from the lawn supply store for Lawn Supplies
b. Receipt for 11 from the gas station for fuel
c. Receipt for 17 for lunch with a potential client
Requirements
1. Journalize the entry to establish the Petty cash fund. 2. Journalize any entries to replenish the fund at the end of June. Add any new accounts to the chart for Lawlor that may be necessary.