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Question 1: The Basic Accounting Equation (write the basic accounting equation below). Ernest Company uses...

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Question 1: The Basic Accounting Equation (write the basic accounting equation below). Ernest Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $200. During March the following petty cash receipts were found in the petty cash box. Amount Receipt Date No. For 3/5 1 Stamp Inventory $74 7 2 Freight-Out 42 9 3 Miscellaneous Expense 11 4 Travel Expense 49 22 The fund was replenished on March 15 when the fund contained $9 in cash. Bonus 2 pts: On March 20, the amount in the fund was increased to $300. Instructions Journalize the entries in March that pertain to the operation of the petty cash fund

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