Cameron Co. established a $190 petty cash fund on January 1, 2023. One week later, on January 8 , the fund contained $36.85 in cash and receipts for these expenditures: postage, $53.20; transportation-in, $34.20; store supplies, $41.55; and a withdrawal of $24.20 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 . 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? Overstated Understated