Check my work Problem 6-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $340 check, cashed it, and gave the proceeds and the petty cashbox to chloe Addison, the petty cashier 5 Purchased bond paper for the copier for $15.55 that is immediately used. 9 Paid $44.50 COD shipping charges on merchandise purchased for resale, terns FOB shipping point. Nakashima uses the perpetual systen to account for merchandise inventory 12 Paid $8.05 postage to express mail a contract to a client. 14 Reinbursed Adina Sharon, the manager, $69 for business mileage on her car 20 Purchased stationery for $69.77 that is immediately used 23 Paid a courier $22 to deliver nerchandise sold to a customer, terns FOB destination. 25 Paid $11,50 coD shipping charges on merchandise parchased for resale, terms FOB shipping point. 27 Paid $55 for postage expenses 28 The fund had $24.56 remaining in the petty cash box. Sorted the petty cash receipts by accounts aftected and exchanged them for a check to reimburse the fund for expenditures. 28 The petty cash fund amount is increased by $140 to a total of $480. 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. Sort the payments in the expenditures in each category. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. to the appropriate categories and total Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 3 Prev 1 of 1 Next