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EcoMart establishes a $ 1 , 2 5 0 petty cash fund on May 2 . On May 3 0 , the fund shows $
EcoMart establishes a $ petty cash fund on May On May the fund shows $ in cash along with receipts for the following expenditures: transportationin $; postage expenses, $; and miscellaneous expenses, $ The petty cashier could not account for a $ overage in the fund. The company uses the perpetual system in accounting for merchandise inventory.
Prepare the May entry to establish the fund, May entry to reimburse the fund Hint: Credit Cash Over and Short for $ and credit Cash for $ and June entry to increase the fund to $
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