1. Prepare the journal entries for each of the petty cash transactions.

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2. Indicate the impact each transaction had on net income. Decreases to net income should be indicated with a minus sign.

Wilson Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May. May 1 Prepared a company check for $400 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. May 15 a. Paid $133 for janitorial services. May 15 b. Paid $100 for miscellaneous expenses. May 15 c. Paid postage expenses of $66. May 15 d. Paid $33 to Facebook for advertising expense. May 15 e. Counted $76 remaining in the petty cash box. May 16 Prepared a company check for $200 to increase the fund to $600. May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31 f. Paid postage expenses of $210. May 31 g. Reimbursed the office manager for business mileage, $105. May 31h. Paid $35 to deliver merchandise to a customer, ternis FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $160, leaving a total of $440. General journal tab - Prepare the necessary journal entries. General Ledger and Trial balance tabs -Review the general ledger and trial balance tabs. Impact on Net Income tab - Calculate the impact each entry had on net income, if any. Journal entry worksheet 5 Prepared a company check for $400 to establish the petty cash fund. Note: Enter debits before credits. Journal entry worksheet Prepared a company check to replenish the fund for the following expenditures made since May 1: $133 for janitorial services; $100 for miscellaneous expenses; postage expenses of $66; and $33 to Facebook for advertising expense. Counted $76 remaining in the petty cash box. Note: Enter debits before credits. Journal entry worksheet Prepared a company check for $200 to increase the fund to $600. Note: Enter debits before credits. Journal entry worksheet The petty cashier reports that $240 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 $210, reimbursed the office manager for business mileage, $105; and $35 to deliver merchandise to a customer, terms Note: Enter debits before credits. Journal entry worksheet The company decides that the May 16 increase in the fund was too large. It reduces the fund by $160, leaving a total of $440. Note: Enter debits before credits. Indicate the impact each transaction had on net income. Decreases to net income should be indicated with a minus sign. to