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On April 2, Granger Sales decides to establish a $370 petty cash fund to relieve the burden on Accounting. Required: a. Journalize the establishment of
On April 2, Granger Sales decides to establish a $370 petty cash fund to relieve the burden on Accounting. Required: a. Journalize the establishment of the fund.* b. On April 10, the petty cash fund has receipts for mail and postage of $52, contributions and donations of $13, and meals and entertainment of $95. Petty cash on hand is $209. Journalize the replenishment of the fund. Record any missing funds in the cash short and over account.* c. On April 11, Granger Sales decides to increase petty cash to $540. Journalize this event.* *Refer to the Chart of Accounts for exact wording of account titles.
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