can you please solve problem 7-2A

Problem 7-2A Establishing, relmbursing, and increasing the petty cash fund LO4 Halifax Fitness Consulting completed the following petty cash transactions during February 2020; Feb 12 2 Prepared a $360 cheque, cashed it, and gave the proceeds and the petty cash box to Nick Reed, the pety cashier 5 Purchased paper for the copler. $22 9 Pald $38 COD charges on merchandise purchased for resole. Assume Holfox Fitness Consulting uses the perpetual method to occount for merchandise inventory Paid $17 postage to express mail a contract to a client Reimbursed Kim Marin, the manager of the business. $148 for business auto expenses 20 Purchased stationery, $65 23 Paid a courier $8 to deliver merchandise sold to a customer 25 Pald $20 COD charges on merchandise purchased for resale. Pald $24 for stomps 28 Reed sorted the petty cash receipts by accounts affected and exchanged them for a cheque tombehend for expenditures. However, there was only $11 in cash in the fund. In addition, the size of the petty cash was increased to $500 28 20 25 28 28 Purchased stationery, $65. Poids courier 38 to deliver merchandise sold to a customer Pald $20 COD charges on merchandise purchased for resale Pald $24 for stamps, Reed sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures. However, there was only $11 in cash in the fund. In addition, the size of the petty cash fondwm Increased to $500 Required 1. Prepare a journal entry to record establishing the petty cash fund. 2. Prepare a summary of petty cash payments, similar to Exhibit 7.3 that has these categories: delivery ex- pense, auto expense, postage expense, merchandise inventory, and office supplies Sort the payments into the appropriate categories and total the expenditures in each category. 3. Prepare the journal entry to record the reimbursement and the increase of the fund. 514