Prepare journal entries relating to petty cash A petty cash fund of $250 was set up by Snodgrass Ltd on 1 August by drawing cheque no. 232. Transactions relating to petty cash in August were as...

Prepare journal entries relating to petty cash A petty cash fund of $250 was set up by Snodgrass Ltd on 1 August by drawing cheque no. 232. Transactions relating to petty cash in August were as follows: Date Voucher no. Amount $ Details Aug 1 250.00 Establishment of fund (chq. no. 232) 3 53 25.00 Staff tea supplies 4 54 5.00 Fares 7 55 19.00 Taxi 56 7.50 Fares 10 57 3.00 Postage 15 59 24.00 Taxi Reimbursement of fund (chq. no. 241) 19 60 5.00 Fares 61 28.00 Taxi 24 62 15.00 Donation to charity 25 63 22.50 Stationery supplies 26 64 110.00 Entertaining clients 31 65 7.00 Fares Reimbursement of fund (chq. no. 244) Prepare journal entries to record the transactions during August.