Velor Inc. completed the following petty cash transactions during December, 2014. December 1 : Drew a $1,000.00 cheque, cashed it, and gave the proceeds and the petty cash box to Harold Cooper, the petty cashier. December 2 : Purchased office file folders, $139.25. December 5 : Paid $126.50 for stamps. December 8 : Paid $150.85 COD charges on merchandise purchased for resale (assume a perpetual inventory system). December 9 : Paid $143.65 for refreshments for meetings. December 11 : Purchased office supplies for $153.80. December 12 : Paid $136.80 for minor computer repairs. December 31 : Harold Cooper sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures. However, there was only $147.00 in cash in the fund. a) Enter the journal entry to establish the petty cash fund. Enter an appropriate description, and enter the date in the format dd/mmm (ie. 15/Jan).