Cornerstone Exercise 4-23 (Algorithmic) Petty Cash Fund Murphy, Inc., maintains a balance of $2,100 in its petty cash fund. On December 31, Murphy's petty cash account has a balance of $204. Murphy replenishes the petty cash account to bring it back up to $2,100. Murphy classifies all petty cash transactions as miscellaneous expense. Required: What entry is made to record the replenishment of the petty cash fund? Dec. 31 (Replenish petty cash fund and recognize expenses) Multiple-Choice Exercise 4-3 (Algorithmic) Which of the following is not one of the five components of internal control? a. Develop an internal audit group b. Identify external risks c. Prepare tax returns d. Identify internal risks