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Exercise 8-8 Petty cash fund with a shortage P2 Waupaca Company establishes a $350 petty cash fund on September 9. on September 30, the fund

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Exercise 8-8 Petty cash fund with a shortage P2 Waupaca Company establishes a $350 petty cash fund on September 9. on September 30, the fund showu $104 in cash along with receipts for the following experiditures: transportation-in. $40: postage expenses, $129:and miscellaneous expenses, $80. The petty cashier could not account for $3 shortage in the fund. The company wes the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to 5.400 Your answer 1 ABI- H M iii MI 1

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