Let's break down the petty cash fund transactions for Crane Company:

Initial Setup

• May 1: Established petty cash fund with a cheque for $140.00.

June 1 Replenishment

• Cash in fund: $4.75

• Receipts:

  • Delivery expense: $34.45

  • Postage expense: $36.10

  • Travel expense: $60.25

To replenish the fund, we need to calculate the total expenses and the amount required to bring the fund back to $140.00.

Total expenses for June 1:

$34.45 + 36.10 + 60.25 = 130.80$

Amount required to replenish:

$140.00 - 4.75 = 135.25$

July 1 Replenishment

• Cash in fund: $3.25

• Receipts:

  • Delivery expense: $32.05

  • Entertainment expense: $66.20

  • Supplies: $38.50

Total expenses for July 1:

$32.05 + 66.20 + 38.50 = 136.75$

Amount required to replenish:

$140.00 - 3.25 = 136.75$

Summary

• June 1: Replenished with $135.25

• July 1: Replenished with $136.75

Is there anything else you'd like to know about these transactions?