Malone Gifts makes the following two entries to establish and replenish its petty cash fund.

Required
Determine the effect on the accounting equation for each entry. Determine how much cash was in the petty cash fund when established, immediately before replenishment, and immediately after replenishment. Were receipts equal to the cash needed for replenishment?

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Petty Cash 100 Cash Miscellaneous Expense Postage Expense Supplies Expense Cash Over and Short 100 35 10 30 Cash