Do It! Review 7-3

Wilkinson Company established a $120 petty cash fund on August 1. On August 31, the fund had $12 cash remaining and petty cash receipts for postage $32, office supplies $32, and miscellaneous expense $41. Prepare journal entries to establish the fund on August 1 and replenish the fund on August 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)