Isaiah, Inc. maintains a petty cash fund of $400. The follow…
Isaiah, Inc. maintains a petty cash fund of $400. The following summary information was taken from petty cash vouchers for July, 2024: Travel Expense $79.30 Customer Business Lunches $93.42 Express Mail Postage $55.00 Miscellaneous Office Supplies $32.48 Assume the amount of cash on hand at the end of July is $137.80. Isaiah, Inc is considering raising the amount of the petty cash account to $600 in two years. Assume the ledger account, cash currently has a balance of $27,418. How much will be needed to replenish the petty cash fund in July, 2024?
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