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Megans company established a $100 petty cash fund on August 1. On August 31, the fund had $7 cash remaining and petty cash receipts for

Megans company established a $100 petty cash fund on August 1. On August 31, the fund had $7 cash remaining and petty cash receipts for postage $31, office supplies $42, the miscellaneous expense $16. Prepare journal entries to establish the fund on August 1 and replenish the fund on August 31.

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