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Wilkinson Company established a $120 petty cash fund on August 1. On August 31, the fund had $15 cash remaining and petty cash receipts for
Wilkinson Company established a $120 petty cash fund on August 1. On August 31, the fund had $15 cash remaining and petty cash receipts for postage $34, office supplies $27 (use supplies account), and miscellaneous expense $42. Prepare journal entries to establish the fund on August 1 and replenish the fund on August 31.
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