A company establishes a $490 petty cash fund on October 1. On October 31, the fund shows $227 in cash along with receipts for the following expenditures: Entertainment expenses, $53; postage expenses, $75; and miscellaneous expenses, $123. The petty cashier could not account for a $12 shortage in the fund. The company uses the perpetual inventory system. Prepare (1) the October 1 entry to establish the fund, (2) the October 31 entry to reimburse the fund, and (3) the November 1 entry to increase the fund to $545.

A company establishes a $490 petty cash fund on October 1. On October 31 , the fund shows $227 in cash along with receipts for the following expenditures: Entertainment expenses, \$53; postage expenses, \$75; and miscellaneous expenses, \$123. The petty cashier could not account for a $12 shortage in the fund. The company uses the perpetual inventory system. Prepare (1) the October 1 entry to establish the fund, (2) the October 31 entry to reimburse the fund, and (3) the November 1 entry to increase the fund to $545