haig company maintains a petty cash fund for small expenditures.

Project Description:

haig company maintains a petty cash fund for small expenditures. the following transactions occurred over a 2-month period.july 1 established petty cash fund by writing a check on china bank for $100.15 replenished the petty cash fund by writing a check for $96.90. on this date, the fund consisted of $3.10 in cash and the following petty cash receipts: freight-out $51.00, postage expense $20.50, entertainment expense $23.10 and miscellaneous expense $6.10.31 replenished the petty cash fund by writing a check for $95.90. at this date, the fund consisted of $4.10 in cash and the following petty cash receipts: freight-out $43.50, charitable contributions expense $20.00, postage expense $20.10 and miscellaneous expense $12.30.aug. 15 replenished the petty cash fund by writing a check for $98.00. on this date, the fund consisted of $2.00 in cash and the following petty cash receipts: freight-out $40.20, entertainment expense $21.00, postage expense $16.00 and miscellaneous expense $19.80.16 increased the amount of the petty cash fund to $150 by writing a check for $50.31 replenished petty cash fund by writing a check for $137.00. on this date, the fund consisted of $13 in cash and the following petty cash receipts: freight-out$74.00, entertainment expense $43.20, and postage expense $17.70.instructions(a) journalize the petty cash transactions.(b) post to the petty cash account.(c) what internal control features exist in a petty cash fund?
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