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Cameron Co. established a $184 petty cash fund on January 1, 2023. One week later, on January 8, the fund contained $3571 in cash and
Cameron Co. established a $184 petty cash fund on January 1, 2023. One week later, on January 8, the fund contained $3571 in cash and receipts for these expenditures: postage, $51.52; transportation-in, $33.12; store supplies, $40.23, and a withdrawal of $2342 by Jirn 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. View transaction list View journal entry worksheet No Date General Journal 1 January 01, 2023 Petty cash Cash 184 184 b. Prepare a summary of the petty cash payments and record the entry to reimburse the fund on January B. (Round your enswers to 2 decimal places.) CAMERON CO. Petty Cash Payments Repor Januncy 1-0, 2023 Receipts 56 Total receipts Fund total Equals Cash required to replenish petty cash Cash over/(short) $ 0.00 Journal entry worksheet 1 Record the entry to reimburse the fund. Note: Enter debits before credits. Date January 08, 2023 General Journal Debit Credit Decord entry Clear entry View general journal Record entry Clear entry View general journal Analysis Component: If the January 8 entry to reimburse the fund were not recorded and financial statements were prepared t would profit be over- or understated? O Understated O Overstated
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