Accounting for petty cash transactions

On September 1, Cool Salad Dressing creates a petty cash fund with an imprest balance of $250. During September, Michael Martell, the fund custodian, sighs the following petty cash tickets:

Petty cash ticket number	Item	Amount
101	Office supplies	$30
102	Cab fare for executive	20
103	Delivery of package across town	35
104	Business dinner	25
105	Merchandise inventory	80

On September 30, prior to replenishment, the fund contains these tickets plus cash of $65. The accounts affected by the petty cash payments are Office Supplies, Travel Expense, Delivery Expense, Entertainment Expense, and Merchandise Inventory.

Requirements

Explain the characteristics and the internal control features of an imprest fund.

On September 30, how much cash should the petty cash fund hold before it is replenished?

Journalize all required entries to create the fund and replenish it. Include explanations.

Make the October 1 entry to increase the fund balance to $300. Include in explanation, and briefly describe what the custodian does.