EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $326 in cash along with receipts for the following expenditures transportation-in, \$120; postage expenses, $369; and miscellaneous expenses, $240. The petty cashier could not. account for a $5 overage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund [Hint Credit Cash Over and Short for $5 and credit Cash for $724 ), and (3) June 1 entry to increase the fund to $1,200. Journal entry worksheet Record the May 2 entry to establish the fund. Note: Inter deblits before credits. EcoMart establishes a $1,050 petty cash fund on May 2 On May 30, the fund shows $326 in cash along with receipts for the following expenditures transportation-in, \$120; postage expenses, $369, and miscellaneous expenses, $240. The petty cashier could not account for a $5 overage in the fund The company uses the perpetual system in accounting for merchandise inventory Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund [Hint. Credit Cash Over and Short for $5 and credit Cash for $7241, and (3) June 1 entry to increase the fund to $1,200 Journal entry worksheet Pecord the May 39 entry to remburse the fund. EcoMart establishes a $1,050 petty cash fund on May 2 . On May 30 , the fund shows $326 in cash along with receipts for the following expenditures, transportation-in, $120; postage expenses, $369; and miscellaneous expenses, $240. The petty cashier could not account for a $5 overage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund [Hint. Credit Cash Over and Short for $5 and credit Cash for $724 ). and (3) June 1 entry to increase the fund to $1,200. Journal entry worksheet Record the June 1 entry to increase the fund to $1,200. Noter Enter debits before credits