8. The following petty cash transactions of Gilpin Golf Equipment occurred in May: May 1 May 31 Established a petty cash fund with a $400 balance. The petty cash fund has $27 in cash and $371 in petty cash tickets that were issued to pay for Office Supplies ($280), Delivery Expense ($27), Postage Expense ($52) and Miscellaneous Expense ($12). The petty cash custodian replenished the fund and recorded the expenses. Prepare journal entries. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation May 1 Petty Cash Cash Debit Credit 400 400 To open the petty cash fund. Journalize the replenishment of the fund. Date Accounts and Explanation. Debit Credit May 31