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2. Hakan Corporation maintains a petty cash fund for minor expenditures. The following transactions occurred in June and July 2022: a) The fund was established
2. Hakan Corporation maintains a petty cash fund for minor expenditures. The following transactions occurred in June and July 2022: a) The fund was established in the amount of $300.00 on June 1. b) On June 30, the petty cash fund had cash of $46.38 and the following receipts on hand: postage, $120.00; supplies, $74.82; delivery service, $37.20; and entertainment expense, $21.60. Replenished the petty cash fund by writing a check for $253.62. c) On July 31, the petty cash fund had cash of $66.18 and the following receipts on hand: postage, $102.60; supplies, $98.52; and delivery service, $19.20. The petty cash custodian could not account for the shortage. Decreased the amount of the petty cash fund to $250 and replenished the petty cash fund by writing a check for $183.82. Journalize the petty cash transactions. Description Debit Credit Date Description Debit Credit July 31 Date June 1 June 30
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