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  3. 16. on january 1st, melissa co. establishes a pett

16. On January 1st, Melissa co. establishes a petty cash fund in the amount of...

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Accounting

16. On January 1st, Melissa co. establishes a petty cash fund in the amount of $750. On 31 January, the fund is replenished. Before replenishment, there was $278.25 remaining in the petty cash drawer and the following receipts:

I. parking fees - $125.25

ii. postage - 71

iii. office supplies - $222

iv. miscellaneous expenses - $52

prepare all journal entries necessary to record the establishment and replenishment of the fund

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