urgent

Cameron Co. established a $200 petty cash fund on January 1.2023. One week latef, on January 8, the fund contained $46.85 in cash and receipts for these expenditures. postage, $51.60, transportation-in, $35.00; store supplies, $41.55; and a withdrawal of $25.00 by Jim Cameron, the owner. Cameron uses the perpetual method to account for merchandise inventory. o. Prepare the journal entry to establish the fund on January 1 . b. Prepare a summary of the petty cash payments and record the entry to reimburse the fund on January 8 . (Round your answers to 2 decimol places.) Journal entry worksheet Note: Enter debits before credits. Analysis Component: If the January 8 entry to reimburse the fund were not recorded and financial statements were prepared for the month of Janua would profit be over-or understated? Overstated Understated