Check my work Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory book Feb. 2 wrote a $360 check to establish a petty cash fund. 5 Purchased paper for the copier for $14.95 that is immediately used. 9 Paid $36.50 shipping charges (transportation-in) on merchandise purchased for resale, terms on shipping point. These coats are added to merchandise inventory. 12 Paid $7.25 postage to deliver a contract to a client. 14 Reimbursed Adina Sharon, the manager, 973 for mileage on her car. 20 Purchased office paper for $69.77 that is immediately used. 23 Paid a courier 323 to deliver merchandise sold to a customer, terma TOB destination. 25 Paid $10.20 shipping charges (transportation-in) on merchandise purchased for resale, torna po shipping point. These coats are added to merchandise inventory. 27 Paid 051 for postage expenses. 28 The fund had $25.92 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. 28 The petty cash fund amount is increased by $50 to a total of $410. eferences Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense. merchandise inventory (for transportation-in), and office supplies expense. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount Complete this question by entering your answers in the tabs below. Required i Required 2 Required 3 Prepare the journal entry to establish the petty cash fund. View transaction list Vw journal entry worksheet General Journal Credit No 1 Date Feb 02 Debit 360 2 Petty cash Cash 360 Required 2 > Pidles.) $ 23.00 73.00 es NAKASHIMA GALLERY Petty Cash Payments Report (for February) Delivery expense Feb. 23 Delivery of customer's merchandise Mileage expense Feb. 14 Reimbursement for mileage Postage expense Feb. 27 Purchased postage stamps $ 51.00 Feb. 12 Express delivery of contract 7.25 Merchandise inventory (transportation-in) Feb. 9 Shipping charges on purchases 36.50 Feb. 25 Shipping charges on purchases Office supplies expense Feb. 5 Purchased paper for copier 14.95 Feb. 20 Purchased office paper 69.77 Total 58.25 10.20 46.70 84.72 285.67 Check my work Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. (Round your answers to 2 decimal places.) View transaction list eBook Journal entry worksheet Print Beferences Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Debit General Journal Date Credit Feb 28 Prey 1 of 3 8 Next >
