Prepare journal entries for the following petty cash fund transactions:
Definitions:
Net Fixed Assets
The value of a company’s long-term, tangible assets minus any depreciation, representing the net book value of physical assets.
Inventory
The goods and materials that a business holds for the ultimate goal of resale or processing in the production process.
Profit Margin
A financial metric reflecting the percentage of revenue that remains as profit after all expenses are paid, used to assess a company's financial health and efficiency.
Price-Earnings Ratio
A valuation ratio of a company's current share price compared to its per-share earnings, used to gauge the relative value of a company.
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