1 Problem 6-3A (Algo) Estabilshing, relmbursing, and increasing petty cash LO P2 Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual syster to account for merchandise inventory. February 2 wrote$35 check to establish a petty cash fund February 5 Purchased paper for the copter for 515.15 that is mediately used February Paid 534.5e shipping charges (transportation) on erchandise purchased for sale, to shipping point these costs are added to marchandise inventory February 12 Paid 58.25 postage to deliver a contract to client February 14 Reimbursed Adina Sharon, the sanager, 569 for on her car February 20 Purchased office paper for $68.7 that is editaly used February 21 paid a courier $10 to deliver merchandise sold to customer, tres o destination February 25 Paid $10.50 shipping charges (transportation) on merchandise purchased for real ees For shipping point. There costs are added to merchandise inventory February 27 Paid 560 for postage expenses February 2: The fund had $25.22 rining in the petty cashbox Sorted the petty cash receipts by accounts affected changed ther for a check to resurse the fund for expenditures February 2: The petty cash fund amount is increased by se to total of $4.00 hoes Required: 1. Prepare the journal entry to establish the petty cash fund 2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense merchandise inventory for transportation in and office supplies expense. 2. Prepare the journal entries for required 2 to both ( reimburse and increase the tund amount Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required) Prepare the journal entry to establish the petty cash fund. View transaction list Journal entry worksheet 1 Wrote a $350 check to establish a petty cash fund. General Journal Debat Credit February 02 3. Prepare the journal entries for required 2 to both (@reimburse and {b} increase the fund amour Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entry to establish the petty cash fund. View transactions Journal entry worksheet wrote 550 check to establish a petty cash fund. General Journal Det Date February 02 Cream Ready Clear entry er Required 2 > Type here to search O Complete this question by entering your answers in Required 1 Required 2 Required 3 Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, po expense, merchandise inventory (for transportation-in), and office supplies expense. (Round your answers to 2 places.) NAKA SHIMA GALLERY Petty Cash Payments Report for February) Delivery expense Mileage expense Postage expense 0.00 Merchandise inventory (transportation-in) 0.00 Office supplies expense 0.00 Total Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. (Round y places.) View transaction list Journal entry worksheet