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Sneaker Company decides on March 1, 20XX, that they need a $250 petty cash fund. On March 31 the fund contains the following cash and

Sneaker Company decides on March 1, 20XX, that they need a $250 petty cash fund. On March 31 the fund contains the following cash and receipts: (Use account names specified)

Cash $27

Postage Expense 28

Employee lunches (Misc. Exp.) 76

Receipt for printer ink (Office Supply Exp.) 47

IOUs from employees 74

Football pool 26

Prepare the journal entries for March 1 and March 31.

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