Response to the following questions:
1. Journalize the entries to record the following:
a. Established a petty cash fund of $750.
b. The amount of cash in the petty cash fund is now $119.57. Replenished the fund, based on the following summary of petty cash receipts: office supplies, $415.83; miscellaneous selling expense, $126.50; miscellaneous administrative expense, $88.10.
2. Journalize the entries to record the following:
a. Established a petty cash fund of $500.
b. The amount of cash in the petty cash fund is now $89.60. Replenished the fund, based on the following summary of petty cash receipts: office supplies, $267.25; miscellaneous selling expense, $110.85; miscellaneous administrative expense, $32.30.