1 Kiona Co set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May 5 Book May 1 Prepared a company check for $300.00 to establish the petty cash fund May 15 Prepared company check to replenish the fund for the following expenditure made ince May .. Pald 688.00 for janitorial services. b. Pald 853.68 for miscellanes e. Pald postage expenses of 53.50 d. Paid 147.15 to The County Carette (the local newspaper) for an er .. Counted 162.15 remaining the petty cash box May 16 Prepared check for $200.00 to increase the fund to $500.00 May 31 The petty cukier reports that $288.20 each in the fund. A company cheek s dean to replenish the fund f. Paid postage expenses of $147.36. 9. Reimbursed the office manager for briesmile, $23.50. h. Paid $34.75 to deliver merchandise to a customer, terma Poh destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $100.ho, leaving total of $400.00 company Print References Requirement General Journal General Ledger Trial Balance Impact on income Chapter 6 G.L. Petty Cash HW. total of $400.00. 1 Requirement General Journal General Ledger Trial Balance Impact on income 5 points Indicate the impact each transaction had on net income. Enter decreases to net income as negative values. to: May 31 Impact transaction has on income: Dates: May 01 Amount of increase (decrease) eBook Print Transaction May 1) Prepared a company check for $300 to establish the petty cash fund May 15) Prepared a company check to replenish the fund for the following expenditures made since May 1: $88 for janitorial services, $53.68 for miscellaneous expenses, postage expenses of $53.50, $47.15 for an advertisement Counted $62.15 remaining in the petty cash box May 16 Prepared a company check for $200 to increase the fund to $500 References May 31 The petty cashier reports that $288.20 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15: postage expenses of $147.36, business mileage, $23.50, $34.75 to deliver merchandise to a customer, terms FOB destination May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $100, leaving a total of $400 In total, net income increased (decreased) by: $ 0.00