12.50 points Problem 8-2A Establish, reimburse, and adjust petty cash LO. P2 Shawnee Co. set up a pety cash fund for payments of small amounts. The following transactions involving the petty cash fund occuirred in May (the last month of the company's financial year). May 1 Prepared a company check for $250.00 to establish the petty cash fund 15 Prepared a company check to replenish the fund for the following expenditures made since Mayl Paid $78.00 for janitorial services b. Paid 863.67 for miscellaneous expenses. c. Paid postage expenses of $43.50 d Paid $57.15 to The County Gazette (the local newspaper)for an advertisement Counted $19.17 romaining in the petty cash box. Prepared a company check for $200 to increase the fund to $450 The petty cashier reports that $303.39 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15 16 31 Paid postage expenses of $48.36 Reimbursed the office manager for business mileage, $38.50. Paid $39,75 to deliver merchandise to a customer, terms FOB destination 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving a total of $400 1. Prepare journal ontries to establish the fund on May 1, to roplenish it on May 15 and on May 31, and to reflect any increase or decrease in the fund balance on May 16 and May 31 (Round your answers to 2 decimal places. Omit the "$" sign in your response | 75 . 1 GB Date