On June 1 of the current year, Philips Company established a $150 petty cash fund. On June 30, the petty cashbox had $53. The petty cash receipts on that date were as follows: Office Supplies $54.00 Misc. Expense $35.00 Freight Paid on Merchandise Purchases $10.00 Prepare journal entries on June 1 to establish the petty cash fund and on June 30 to replenish petty cash.