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). 

Jan. 3 A company check for $ 150 is written and made payable to the petty cashier to establish the petty cash fund.
14 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 up. 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 minor repairs to a computer. 
d. Paid $ 12.82 for items classified as miscellaneous expenses. 
e. Counted $ 62.28 remaining in the petty cash box. 15 Prepared a company check for $ 50 to increase the fund to $ 200. 
31 The petty cashier reports that $ 17.35 remains in the fund. A company check is written to replenish the fund for the following expenditures made since January 14. 
f. Paid $ 50 to The Smart Shopper for an advertisement in January's newsletter. 
g. Paid $ 48.19 for postage expenses. 
h. Paid $ 78 to Smooth Delivery for delivery of merchandise, terms FOB destination. 
31 The company decides that the January 15 increase in the fund was too little. It increases the fund by another $ 50, leaving a total of $ 250. 

Required: 

1. 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. 
Analysis Component :
2. Explain how the company's financial statements are affected if the petty cash fund is not replenished and no entry is made on January 31.