Prepare the journal entries for the following petty cash transactions of Morrison Dental Supplies.
Definitions:
Marginal Social Benefit
The additional gain to society as a whole from an extra unit of production.
Marginal Social Cost
The cost to society of producing an additional unit of a good or service, including both the private costs and any external costs.
Marginal Social Benefits
The extra advantage to the entire community from using an additional unit of a product or service.
Public Goods
Goods that are non-excludable and non-rivalrous, meaning their use by one individual does not reduce availability to others.
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