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Waupaca Company establishes a $430 petty cash fund on September 9. On September 30, the fund shows $171 in cash along with receipts for the

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Waupaca Company establishes a $430 petty cash fund on September 9. On September 30, the fund shows $171 in cash along with receipts for the following expenditures: transportation-in, $47, postage expenses, $76, and miscellaneous expenses. $127. The petty cashier could not account for a $9 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 $465. View transaction list Journal entry worksheet 2 3 Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits General Journal Debit Credit Sept 09

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