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Class Homework-Petty cash fund Dandarion company decided to establish a petty cash fund on the 15th of March with an allowance of 7,900$. Which will
Class Homework-Petty cash fund Dandarion company decided to establish a petty cash fund on the 15th of March with an allowance of 7,900$. Which will be replenished twice a year (at the end of June and at year end). You have the following details related to the replenishing process 1. At the end of June, the fund contained only 550$ and the custodian provided the accounting department with the following receipts: Stamps expenses 1500 Fright expenses 4,000 Travel expenses 1800 Miscellaneous expenses 50 2. At the end of December, the fund contained only 1,200$ and the custodian provided the accounting department with the following receipts: Stamps expenses 1200 Fright expenses 4,700 Travel expenses 800 Miscellaneous expenses 70 At the end of the Dandarion decided that the fund is higher than needed and decided to decrease it to 7,150$ Instructions: you are required to record the needed journal entries
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