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Exercise 8-8 Petty cash fund with a shortage LO P2 Waupaca Company establishes a $400 petty cash fund on September 9. on September 30, the fund shows $132 in cash along with receipts for the following expenditures: transportation in, $49; postage expenses, $80; and miscellaneous expenses, $134. The petty cashier could not account for a $5 shortage in the fund. The company uses the perpetual system in accounting for merchandise Inventory Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $475. Answer is complete but not entirely correct. No Credit General Journal Date Sept 09 Debit 400 1 Petty cash Cash 400 49 2 Sept 30 Transportation in Postage expense Miscellaneous expenses Cash over and short Cash O 80 134 5 268 75 3 Oct 01 . Petty cash Cash lo 75