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Using a table in Microsoft Word, or a spreadsheet in Microsoft Excel, create a petty cash budget sheet to show the following account activity:

October 1: $300 added to petty cash account to start

October 3: $70.00 was removed from petty cash to take a customer out to lunch

October 3: $6.73 was returned to petty cash

October 5: $23.00 was given to J. Smith for fuel reimbursement

October 9: $25.00 was taken out to purchase printer paper

October 9: $7.63 was returned

October 14: $60.00 was removed to take client to lunch

October 14: 13.47 was returned

October 21: $60.00 was removed to take a client to lunch

October 21: $7.29 was returned

October 26: $25.00 was taken out to purchase copier paper

October 26: $7.62 was returned

October 30: $40.00 was taken out to purchase holiday candy

October 30: 1.74 was returned

Once you have created your budget sheet answer the following questions (you can answer in the same document):

1. How much money was left in petty cash at the end of the month?

2. How would you go about setting up the petty cash drawer for November?