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Waupaca Company establishes a $420 petty cash fund on September 9. On September 30, the fund shows $195 in cash along with receipts for the

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Waupaca Company establishes a $420 petty cash fund on September 9. On September 30, the fund shows $195 in cash along with receipts for the following expenditures transportation-in, $47: postage expenses, $56, and miscellaneous expenses, S117. The petty cashier could not account for a $5 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $470. View transaction list Journal entry worksheet Prepare the journal entry to establish the Petty Cash fund Note: Enter debits before cred.ts Debit:Credit Date General Journat Sept 9 Piev 1of 31 Next >

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