Davis Company establishes a petty cash fund. The following transactions involving the petty cash fund occurred in January. Jan 3 A company check for $150 is written and made payable to the petty cashier to establish the Petty Cash Fund. Jan 14 A company check is written to replenish the petty cash fund for the following expenditures made since January 3 rd. a. Purchased office supplies for $14.29 that are immediately used up. b. Paid $19.60 COD (collect on delivery) shipping charges on merchandise purchased for resale, terms FOB shipping point. Davis uses the perpetual system to account for inventory. c. Paid $38.57 to Baker-Tech for minor repairs to a computer. d. Paid $12.82 for items classified as miscellaneous expenses. e. Counted $62.28 remaining in the petty cash box. Jan 15 Prepared a company check for $50 to increase the Petty Cash Fund to $200 Jan 31 The Petty Cash cashier reports that $17.35 remains in the fund. A company Check is written to replenish the fund for the following expenditures made since January 14 th. a. Paid $50 to the "Smart Shopper" newspaper for an advertisement. b. Paid $48.19 for postage expenses. c. Paid $78 to Smooth Delivery for delivery of merchandise, terms FOB destination. Jan 31 The company decided that the January 15 increase in the fund was too little. It increases the fund by another $50, leaving a total of $250. DIRECTIONS: Prepare journal entries to establish the fund on January 3 , to replenish it on January 14 th and January 31st and to reflect any increase or decrease in the fund balance on January 15 th and January 31 st