Capital Irrigation has only a general journal in its accounting system and uses it to record all transactions. However, the company recently set up a petty cash fund to facilitate payments of small items. The following petty cash transactions were noted by the petty cashier as occurring during April 2023:

Apr. 1 Received a company cheque for $300 to establish the petty cash fund.
15 Received a company cheque to replenish the fund for the following expenditures made since April 1 and to increase the fund to $400.
1. Paid $82 for janitorial service.
2. Purchased office supplies for $78.15.
3. Purchased postage stamps for $25.00.
4. Paid $92.50 to The County Crier for an advertisement in the newspaper.
5. Discovered that $24.35 remained in the petty cash box.
30 The petty cashier noted that $244.95 remained in the fund and decided that the April 15 increase in the fund was too large. Therefore, a company cheque was issued to replenish the fund for the following expenditures made since April 15 and to reduce the fund to $350.
6. Purchased office supplies for $94.65.
7. Reimbursed office manager for business auto, $45.60.
8. Paid $14.80 courier charges to deliver merchandise to a customer.

Required
Prepare journal entries to record the establishment of the fund on April 1 and its replenishments on April 15 and April 30.

Analysis Component:
Explain how the company’s financial statements would be affected if the petty cash fund were not replenished and no entry were made on April 30.