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Question 7 The petty cash fund of $300 for Wang Company includes the following on...

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Question 7 The petty cash fund of $300 for Wang Company includes the following on December 31, 2022: Instructions a. Briefly describe when the petty cash fund should be replenished. Because there is cash on hand, is there a need to replenish the fund at year end on December 31? Explain. b. Prepare in general journal form the entry to replenish the fund. The company uses a perpetual inventory system. c. On December 31 , the office manager gives instructions to increase the petty cash fund by $50. Make the appropriate journal entry

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