10.00 points Problem 6-2A Establishing, reimbursing, and adjusting petty cash LO P2 Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year) May 1 Prepared a company check for $350 to establish the petty cash fund 15 Prepared a company check to replenish the fund for the following expenditures made since May 1 a. Paid $109.20 for janitorial services b. Paid S589.15 for miscellaneous expenses. C. Paid postage expenses of $60.90. d. Paid $80.01 to The County Gazette (the local newspaper) for an advertisement e. Counted $26.84 remaining in the petty cash box. 16 Prepared a company check for $200 to increase the fund to $550 31 The petty cashier reports that $365.27 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15 f Paid postage expenses of $50.10 g. Reimbursed the office manager for business mileage, $47.05. h. Paid S48.58 to deliver merchandise to a customer, terms FOB destination. 31 The company decides that the May 10 increase in the tund was too large it reduces the fund by S60, leaving a total of5500 Required: 1. Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31, and to reflect any increase or decrease in the fund balance on May 16 and May 31 (Round your answers to 2 View transaction is Journal entry worksheet Prepared a company check for $350 to establish the petty cash fund. Note: Entor debits before credits Dobit Credit