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On September 1, ABC Company set up a petty cash fund for $300. On September 30, they opened the petty cash lock box and found the following receipts: $140 for stamps, $36.20 for food for the company refrigerator, $27.49 for a delivery of inventory that was made, and $58.97 for office supplies expense. There was also remaining petty cash in the lockbox of $29 REQUIRED: Please make the journal entry on Sept 1 to set up the petty cash fund and also the journal entry for September 30 to reimburse the fund. Wild Accounting major Earl Washington has an on-campus business assembling and delivering "care packages" to freshmen students. Earl accepts cash and two major credit cards: Big Bank and Plastic Fantastic, from parents who order the packages. Big Bank deducts a 5% service charge on all sales, and deposits the money into the checking accounts of its customers as soon as the credit card receipts are received. Earl deposits Big Bank receipts daily. Plastic Fantastic deducts a 3% service charge on all sales. They usually take about 10 days to pay once the credit card receipts are received. Earl deposits Plastic Fantastic receipts weekly. The following transactions were completed during September. 1-Sep Made $670 (that had cost $450) of sales to parents who used the Big Bank card 2-Sep Cash sales for the day amounted to $256 (that had cost $175) 5-Sep Made $1290 (that had cost $850) of sales to parents who use the Plastic Fantastic card 6-Sep Made another $2050 (that had cost $1425) of sales to parents who used the Plast Fant card. 7-Sep Submitted Plastic Fantastic card receipts to the credit card company for payment. 10-Sep Made $1440 (that had cost $1020) of sales to parents who use the Big Bank card 17-Sep Received the amount due from Plastic Fantastic. Required: Prepare journal entries to record the preceding transaction and events (company uses the perpetual inventory system)