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Eco Mart establishes a $1,200 petty cash fund on May 2. On May 30, the fund shows $410 in cash along with receipts for the

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Eco Mart establishes a $1,200 petty cash fund on May 2. On May 30, the fund shows $410 in cash along with receipts for the following expenditures, transportation in $126. postage expenses, $402, and miscellaneous expenses, $270. The petty cashier could not account for a $8 average in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund (Hint Credit Cash Over and short for $8 and credit Cash for $790], and (3) June 1 entry to increase the fund to $1,380 View transaction list Journal entry worksheet Record the May 2 entry to establish the fund. Note Enter debits before credite General Journal Date May 02 Debit Credit

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