EcoMart establishes a $1,250 petty cash fund on May 2. On May 30, the fund shows $438 in cash along with receipts for the following expenditures: transportation-in, $128; postage expenses, $413; and miscellaneous expenses, $280. The petty cashier could not account for a $9 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 $9 and credit Cash for $812], and (3) June 1 entry to increase the fund to $1,440.

EcoMart establishes a $1,250 petty cash fund on May 2 . On May 30, the fund shows $438 in cash along with recelpts for the following expenditures: transportation-in. \$128; postage expenses, \$413, and miscellaneous expenses, $280, The petty cashier could not account for a $9 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 teimburse the fund [Hint Credit Cash Over and Short for $9 and credit Cash for \$812), and (3) June 1 entry to increase the fund to $1,440