Cameron Co. established a $156 petty cash fund on January 1, 2023. One week later, on January 8 , the fund contained $30.39 in cash and receipts for these expenditures: postage, $43.68; transportation-in, $28.08; store supplies, $34.07; and a withdrawal of $19.78 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. Journal entry worksheet Record the entry to establish the fund. Note: Enter debits before credit5. b. Prepare a summary of the petty cash payments and record the entry to reimburse the fund on January 8 . (Round your answers to 2 decimal places.) Journal entry worksheet Record the entry to reimburse the fund. Note: Enter debits before credits. Analysis Component: If the January 8 entry to reimburse the fund were not recorded and financial statements were prepared for the month of January, would profit be over- or understated? Understated Overstated