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Feb. 2 Wrote a $300 check, cashed it, and gave theproceeds and the petty cashbox to Reggie Gore the petty cashier. 5 Purchased bond paper for the copier for $14.55 that is immediatelyused. 9 Paid $32.50 COD shipping charges on merchandise purchased forresale, terms FOB shipping point Beard uses the perpetual system to account for merchandiseinventory. 12 Paid$7.85 postage to express mail a contract to a client 14 Reimbursed Jonny Carr, the manager, $66 for business mileage on hercar. 20 Purchasedstationery for $67.67 that is immediately used. 23 Paid acourier $23 to deliver merchandise sold to a customer, terms FOBdestination. 25 Paid $10.30 CODshipping charges on merchandise purchased for resale, termsFOB shipping point. 27 Paid $55 forpostage expense. 28 The fund had$20.82 remaining in the petty cash box. Sorted the petty cashreceipts by accounts affected and exchanged them for a check to reimburse thefund for expenditures. 28 The petty cashfund amount is increased by $100 to a total of $400.
a) Prepare the journal entry toestablish the petty cash fund.
b) Prepare a petty cash paymentsreport for February with these categories: delivery expense,milage expense,postage expense, merchandise inventory(for transportation-in), andoffice supplies expense. Sortthe payments into the appropriate categories and total theexpenditures in each category.
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