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Prepare Journal entries for all of the following: On May 1, Kelly & Company decided to set up a petty cash fund for Dh 1,700.

Prepare Journal entries for all of the following: On May 1, Kelly & Company decided to set up a petty cash fund for Dh 1,700. During the month, Kelly & Company paid out the following expenses from petty cash: May 4 Postage Stamps 140 May 10 Transport charges on merchandise inventory purchased 315 May 23 Courier Fee to deliver merchandise sold 157 May 27 Paid for office cleaning 500 May 30 Mileage Expense Majid Al Haji, Manager 187 May 31 Pens and paper for the office 192 May 31, there was Dh 150 left in the petty cash box. Kelly & Company replenished the petty cash fund and decided to reduce the amount in the petty to Dh 1,600.

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