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QUESTION (11 Marks) E-Z Productions established a petty cash fund of $650 on January 1. On January 28, the fund was replenished for the payments

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QUESTION (11 Marks) E-Z Productions established a petty cash fund of $650 on January 1. On January 28, the fund was replenished for the payments made to date as shown by the following petty cash vouchers: postage, $145; telephone expense, $62.80; delivery expense, $?8.20; ofce supplies expense, $67.20; and miscellaneous expense. $56. As of this date (Jan 28), there was $230.80 of cash on-hand in the lock-box. E-Z always ensures an imprest system on its petty cash fund. On February 1, E-Z increases its petty cash fund to $900. Required: Prepare journal entries in general journal form to record the following transactions (Explanations are required) a) the establishment of the petty cash fund on January 1 (2 marks) 0) the replenishment of the petty cash fund on January 28 (7 marks) c) the increment of the petty cash fund from $650 to $900. (2 marks)

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