Moya Co. establishes a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in January (the last month of the company’s fiscal year).

Required
Prepare journal entries (in dollars and cents) to establish the fund on January 3, to replenish it on January 14 and January 31, and to reflect any increase or decrease in the fund balance on January 15 and 31.

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Jan. 3 14 15 A company check for $150 is written and made payable to the petty cashier to establish the petty cash fund. A company check is written to replenish the fund for the following expenditures made since January 3. a. Purchased office supplies for $14.29 that are immediately used. b. Paid $19.60 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. Moya uses the perpetual system to account for inventory. c. Paid $38.57 to All-Tech for repairs expense to a computer. d. Paid $12.82 for items classified as miscellaneous expenses. e. Counted $62.28 remaining in the petty cashbox. Prepared a company check for $50 to increase the fund to $200.