$2$uestion $5$

anada Company had the following petty cash transactions during March:

Established the petty cash fund for $$130$ on March $1.$

On March $31,$ the cash box had $$28$ worth of cash in it and the $$98$ worth of receipts for the following expenditures: Postage for $$36,$ Transportation$-$in for $$43,$ and repairs for $$19.$ The company also wants to increase the petty cash fund to a total of $$150.$

equired:

a$)$ Prepare the journal entry to establish the fund.

b$)$ Prepare the journal entry to reimburse the fund.