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Make journal entries for the establishment of the fund

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Question - Sweet Company designated Jill Holland as petty cash custodian and established a petty cash fund of $176. The fund is reimbursed when the cash in the fund is at $16, which it is. Petty cash receipts indicate funds were disbursed for office supplies $79 and miscellaneous expense $74.

Required - Make journal entries for the establishment of the fund and the reimbursement.

Reference no: EM132616423

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