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Culver Corporation established a petty cash fund early in 2023 to increase the efficiency of accounting for smallicash tramsactions and to impeove control over many

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Culver Corporation established a petty cash fund early in 2023 to increase the efficiency of accounting for smallicash tramsactions and to impeove control over many of the small expenditures it makes. The company decided to set up the imprest fund at 5415 , and a cheque was issued for this amount and given to the petty cash custodian. During January, the petty cash custodian made the following disbursements and placed a receipt for each in the cash bak provided. The pelty cash was replenished on lanuary 22 when the amount of cash in the fund was $128.41. In June, after sik month' experience with the fund, management decided to increase the imprest fund to 5620. (a) Prepace the joimal entries to establish the petty cashlfund, to reimburse it on Janciary 22 , and to increase the fund in kune. KCredit acoount tilies are outomaticill indented when the amount is entered Do not indent manually. U no entryb rwuire, seiect "No Entry" for the Piegare the journal entries to establish the petty cashfund, to reimburse it on January 22 and to increase the fund in June. FCredit account titles are cutomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the acount tities and enter O for the amounts. Round enswers to 2 decimal ploces, es. 52.75. Record journal entries in the order presented in the probiem. List ail debit entries before credit entries) Freight-Out Advances to Employees Miscellaneous Expense Cash June 30 \begin{tabular}{|l|l|l|} \hline PettyCash & 286.59 \\ \hline \end{tabular} etextbook and Media List of Accounts Save for Later Last saved 5 minutes ago. Attempts: 0 of 5 used Subinit Answer: Saved work will be auto-wubmitted on the due date. Auto- submission can fake up to 10 minutes

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