E7-23B (Petty Cash) The petty cash fund of Rift’s Dress Shop, a sole proprietorship, contains the following.

*E7-23B (Petty Cash) The petty cash fund of Rift’s Dress Shop, a sole proprietorship, contains the following.

1. Coins and currency                                                                  $ 46.50

2. Postage stamps                                                                          12.90

3. An I.O.U. from Jake, an employee,

for cash advance                                                                             25.00

4. Check payable to Rift’s Dress Ship from

lvan, an employee, marked NSF                                                  12.00

5. Vouchers for the following:

Stamps                                                                   $40.00

Printer toner cartridge                                           61.15              101.15

                                                                                                        $197.55

The general ledger account Petty Cash has a balance of $200.

Instructions

Prepare the journal entry to record the reimbursement of the petty cash fund.