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CROBLEM II: RECORDING PETTY CASH TRANSACTIONS (10 POINTS Brown Company established a petty cash fund for $300 on September 1,
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Answer #1
Date General Journal Debit Credit
Sep-01 Petty Cash $   300
Cash $   300
(To establish petty cash fund)
Sep-30 Meals expenses $     78
Postage expenses $     62
Repairs and maintenance expense $   140
Petty cash $   280
(To record petty cash expenses)
Oct-02 Petty cash ($500-20) $   480
Cash $   480
(To record increase in petty cash fund)

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