Cameron Co$.$ established a $$160$ petty cash fund on January $1,2023.$ One week later, on January $8,$ the fund contained $$31\mathrm{.}15$ in cash and receipts for these expenditures: postage, $$44\mathrm{.}80$; transportation$-$in$,$ $$28\mathrm{.}80$; store supplies, $$34\mathrm{.}95$; and a withdrawal of $$20\mathrm{.}30$ by Jim Cameron, the owner. Cameron uses the perpetual method to account for merchandise inventory.

a$.$ Prepare the journal entry to establish the fund on January $1.$

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