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3 PM Robert Rod Help Save &Exit Submi Check my work Problem 6-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had the

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3 PM Robert Rod Help Save &Exit Submi Check my work Problem 6-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had the following petty cash transactions in February of the current year Feb. 2 Wrote a $350 check, cashed it, and gave the proceeds and the petty cashbox to chloe ddison, the petty cashier 5 Purchased bond paper for the copier for $16.15 that is i 9 Paid $34.50 COD mmediately used shipping charges on nerchandise purchased for resale, terns POB shippi ing point. Nakashina the perpetual systen to account for nerchandise invent 12 Paid $7.55 postage to express mail a contract to a client 14 Reimbursed Adi uses ory na Sharon, the manager, $68 for business mileage on her car. 20 Purchased stationery for $67.77 that is innediately usecd 23 Paid a courier $20 to deliver merchandise sold to a custoner, terns POB destination. 25 Paid $11.60 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. 27 Paid $51 for postage expenses es 28 The fund had $23.44 remaining in the petty cash box. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. 28 The petty cash fund amount is increased by $100 to a total of $450. 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. Sort the payments into the appropriate categories and total the expenditures in each category 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount bs below Complete this question by entering your answers in the ta Required 1 Required 2Required 3 Prev 1 of Next>

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