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Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $93 in cash along with receipts for the

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Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $93 in cash along with receipts for the following expenditures: postage. $45: transportation-in, $13; delivery expenses, $15: and miscellaneous expenses. $34. Palmona uses the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January2) eimbuse it on Jenuay Band 3) both embre h increase it to $250 on January 8, assuming no entry in part 2. (Hint Make two separate entries for part 3.) und end View transaction list Journal entry worksheet Prepare the journal entry to establish the Petty Cash fund. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal

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