Bill Jovi is reviewing the cash accounting for Crane, Inc., a local mailing service. Jovis review will focus on the petty cash account and the bank reconciliation for the month ended May 31, 2017. He has collected the following information from Cranes bookkeeper for this task.

Petty Cash

1. The petty cash fund was established on May 10, 2017, in the amount of $290.00.

2. Expenditures from the fund by the custodian as of May 31, 2017, were evidenced by approved receipts for the following.

Postage expense $38.28

Mailing labels and other supplies 75.40

I.O.U. from employees 34.80

Shipping charges (to customer) 66.64

Newspaper advertising 26.45

Miscellaneous expense 17.81

On May 31, 2017, the petty cash fund was replenished and increased to $348.00; currency and coin in the fund at that time totaled $30.62.

Prepare the journal entries to record the transactions related to the petty cash fund for May.

1. To establish petty cash fund

2. To record expenditures from the fund

3. To replenish petty cash fund