Palmona Co establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expenses, $43. Palmona uses
the perpetual system in accounting for merchandise inventory.
Prepare joumal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and
it to $450 on January 8, assuming no entry in part 2. Hint Make two separate entries for part 3.

the answer is b

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step-by-step explanation:

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answer:

probably the same as it is today since you did not eat the corn dogs yet

step-by-step explanation:

yes, gavin is right.

step-by-step explanation:

gavin is correct. 

this problem is about converting 9% per year to how many percent per quarter. the rate is still the same. it only differed in the time period. so, through dimensional analysis,

9% per year  × (1 year / 4 quarters) = 2.25% per quarter

if he was asked to convert 9% per year to how many percent per quarter  compounded quarterly, then you will not simply divide by four. this is because compounding is not linear.

hope this , have a good day. c;