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Shelton Gallery had the following petty cash transaction in February of the current year Feb 2 Wrote a $300 check, cash it and gave the

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Shelton Gallery had the following petty cash transaction in February of the current year Feb 2 Wrote a $300 check, cash it and gave the proceeds and the petty cashbox to Bo Brown, the petty cash cashier Feb 5 Purchase bond paper for the copier for $10.13 that is immediately used. Feb 9 Paid $22.50 COD shipping charge on merchandise purchased for resale, terms FOB shipping point. Shelton uses the perpetual system to account for merchandise inventory. Feb 12 Paid $9.95 postage to express mail a contract to a client. Feb 14 Reimbursed Alli Buck, the manager, $58 for business mileage on her car. Feb 20 Purchased Stationary for $77.76 that is immediately used. Feb 23 Paid a courier $18 to deliver merchandise sold to a customer terms FOB shipping. Feb 25 Paid $15.10 COD shipping charges on merchandise purchased for resale, term FOB shipping point Feb 27 Paid $64 for postage expense. Feb 28 the fund had $21.23 remaining in the petty cash box. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. Feb 28 the petty cash fund amount is increased by $100 to a total of $400. Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare the journal entries to both (a) reimburse and (b) increase the fund amount

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