Towle Company established a petty cash fund for $$500$ on January $1,2016.$ At the end of the month, the petty cash fund contained cash of $$238\mathrm{.}60$ and vouchers for the following cash payments: freight on goods shipped to customers, $$67\mathrm{.}00$; postage, $$75\mathrm{.}00$; miscellaneous expense, $$79\mathrm{.}22$; entertainment expense, $$36\mathrm{.}00.$

Three distinct events affected the petty cash fund during January:

establishment of the fund;

making payments for various items from the fund; and

recognizing expenses and replenishing the fund at the end of the month Required:

a$)$ Record each of the events in the horizontal statements model below. Indicate with the dollar amount of the increase or decrease, or NA if the element is not affected.

b$)$ Prepare journal entries for these events.