Check Problem 8-3A 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 $360 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 $16.35 that is immediately used. 9 paid $32.50 cod shipping charges on merchandise purchased for resale, terms rod shipping point. Nakashima unes the perpetual system to account for merchandise inventory. 12 Paid $8.15 postage to express mail a contract to a client. 14 Reimbursed Adina Sharon, the manager, $73 for business mileage on her car. 20 Purchased stationery for $66.77 that is immediately used. 23 Paid a courier $21 to deliver merchandise sold to a customer, terma TOD destination. 25 paid $10.20 cod shipping charges on merchandise purchased for renate, terns ron shipping point. 28 The fund had $24.86 remaining in the petty cash box. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditure 28 The petty cash fund amount is increased by $130 to a total of $490. 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 into the appropriate categories and total the expenditures in each category 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 1 Required 2 Required 3 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 into the appropriate categories and total the expenditures in each category. (Round your answers to 2 decimal places.) NAKASHIMA GALLERY Petty Cash Payments Report (for February) Delivery expense Delivery of customer's merchandise Mileage expense Postage expense 0.00 Merchandise inventory (transportation-in) 0.00 Office supplies expense 0.00 Total Required 1 Required 2 Required 3 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 Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits Dato General Journal Debit Credit Feb 28
