Setterstrom Company established a petty cash fund on May 1, cashing a check for $120.00. The company reimbursed the fund on June 1 and July 1 with the following results.
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June 1: Cash in fund $2.75.
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Receipts: delivery expense $27.50; postage expense $38.25; and miscellaneous expense $49.40.
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July 1: Cash in fund $4.25.
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Receipts: delivery expense $24.25; entertainment expense $49.25; and miscellaneous expense $42.25.
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On July 10, Setterstrom increased the fund from $120.00 to $150.00.
Prepare journal entries for Setterstrom Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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Date
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Account Titles and Explanation
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Debit
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Credit
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May 1
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June 1
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July 1
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July 10
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