1.On September 1, Griffin Company established a change fund of $100. The fund will be used only for cash receipt transactions. At the end of the day September 1, the fund contained $855 and the cash register tape showed cash collections totaling $760. REQUIRED: Give the general journal entry to establish the fund and to record the cash receipts at the end of the day.

2. On November 1, Raye Company established a change fund of $250. The fund will be used for both cash receipt and cash payment transactions. At the end of the day, November 1, the fund contained $1,180. The cash register tape showed cash collections totaling $1,800 and cash payments totaling $865--receipts for the cash payments made showed the following: payments for delivery charges $335; payments for postage $450; payments made to a charitable organization $80. REQUIRED: Give the general journal entry to establish the fund and to record the cash receipts and cash payments at the end of the day.