On November 1, a company established a $90 petty cash fund. On November 12, the...
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Accounting
On November 1, a company established a $90 petty cash fund. On November 12, the petty cash fund contains $3 in cash and the following paid petty cash receipts: transportation-in on merchandise inventory $14.25; postage, $34.50; and office supplies, $36. Prepare the journal entries for the 11/1 and 11/12 transactions.
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