1. prepare a journal entry to record establishing the petty cash fund.

2. prepare a summafy of petty cash payments.

3.prepare the journal entry to record the reimbursement and the increase of the fund.

Halifax Fitness Consulting completed the following petty cash transactions during February 2023 : Feb. 2 Prepared a $2,360 cheque, cashed it, and gave the proceeds and the petty cash box to Nick Reed, the petty cashier. 5 Purchased paper for the copier, $142. 9 Paid $246 COD charges on merchandise purchased for resale. Assume Hatifax Fitnes5 Consutting uses the perpetual method to account for merchandise inventory. 12 Paid $112 postage to express mail a contract to a client. 14 Reinbursed Kin Marin, the manager of the business, $972 for business auto expenses. 28 Purchased stationery, $429. 23 Paid a courier $24 to deliver merchandise sold to a customer. 25 Pald 560 co0 charges on merchandise purchased for resale. 28 Paid $72 for stanps. 28 Reed sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures. However, there was only $8 in cash in the fund. In addition, the size of the petty cash fund was increased to $4,780