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Christina Company established a petty cash fund on 1 May 2020, cashing a check for $150. The company reimbursed the fund on 1 June 2020

Christina Company established a petty cash fund on 1 May 2020, cashing a check for $150. The company reimbursed the fund on 1 June 2020 and 1 July 2020 with the following results. 1 June 2020 1 July 2020 Cash in fund $4.75 Cash in fund $3.25 Receipts: delivery expense $31.25 Postage expense $39 Receipts: delivery expense $31 Entertainment expense $71 Miscellaneous expense $62 Miscellaneous expense $ 44.75 10 July 2020, Christina increased the fund from $ 150 to $ 200. Instructions: 1. Prepare journal entries for Christina Company for 1 May 2020, 1 June 2020, 1 July 2020, and 10 July 2020. (8 marks) 2. What internal control features are present in a petty cash fundimage text in transcribed

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