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EcoMart establishes a $1,600 petty cash fund on May 2. On May 30, the fund shows $628 in cash along with receipts for the following

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EcoMart establishes a $1,600 petty cash fund on May 2. On May 30, the fund shows $628 in cash along with receipts for the following expenditures: transportation-in. $142: postage expenses, $490, and miscellaneous expenses, $350. The petty cashier could not account for a $10 overage 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 $10 and Credit Cash for $972), and (3) June 1 entry to increase the fund to $1,860, View transaction list Journal entry worksheet Record the May 30 entry to reimburse the fund. Note: Enter debits before credits. General Journal Date May 30 Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the June 1 entry to increase the fund to $1,860. Note: Enter debits before credits Date General Journal Debit Credit June 01 Record entry Clear entry View general journal

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