1 nts Check my work Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory February 2 wrote a $350 check to establish a petty cash fund. February 5 Purchased paper for the copier for $16.55 that is immediately used. February 9 Paid $44.50 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. February 12 Paid $7.75 postage to deliver a contract to a client. February 14 Reimbursed Adina Sharon, the manager, $73 for mileage on her car. February 28 Purchased office paper for $66.77 that is immediately used. February 23 Paid a courier $16 to deliver merchandise sold to a customer, terms FOB destination. February 25 Paid $12.10 shipping charges (transportation-in) on merchandise purchased for resale, terms FOS shipping point. These costs are added to merchandise inventory... February 27 Paid $52 for postage expenses. February 28 The fund had $23.45 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged then for a check to reimburse the fund for expenditures. February 28 The petty cash fund amount is increased by $90 to a total of $440, Required: 1. Prepare the journal entry to establish the petty cash fund 2. Prepare a petty cash payments report for February with these categones: delivery expense, mileage expense, postage expense. merchandise inventory (for transportation-in), and office supplies expense 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount 1 ts Journal entry worksheet < Wrote a $350 check to establish a petty cash fund. Ac Note: Enter debits before credits, Date February 02 General Journal Debit Credit