During March, Anderson Company engaged in the following transactions involving its petty cash fund:
March 1, Anderson Company established the petty cash fund by issuing a check for $1,500 to the fund custodian.
Prepare the journal entries required to record the petty cash account transactions that occurred during the month of March. If no entry is required, select "No entry required" for all accounts and leave associated amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank
Can you help me figure out what to label each journal entry as and what dollar amount to put in each spot?? I am really struggling with this right now