Exercise 6.10 (Algo) Petty cash fund accounting LO P2 Palmona Company establishes a $280 petty cash fund on January 1. On January 8 , the fund shows $193 in cash along with receipts for the following expenditures: postage. \$36; transportation in, \$12; delivery expenses, \$14; and miscellaneous expenses, \$25, Palmona uses the perpetual system in accounting for merchandise inventory. 1. Prepare the entry to establish the fund on January 1. 2. Prepare the entry to reimburse the fund on January 8 under two separate situations: a. To relmburse the fund. b. To reimburse the fund and increase it to $330. Hint Make two entries. a. To reimburse the fund. b. To reimburse the fand and increase it to 5550 Hint Make two entries. Journal entry worksheet Record the journal eritry to establish the petry cash tand. Whe Enter deblis betwre crecti 2. Prepore the entry to reimburse the fund on January 8 under two separate situations: a. To relmburse the fund b. To reimbutse the fund and increase it to $330. Hint Mahe two entries. Journal entry worksheet 2. Prepare the entry to reimburse the fund on January 8 under two segarate situations. a. To reimburse the fund b. Fo reimbutse the fund and increhse it to 5230Hint. Msice two ertries: Journal entry worksheet Reverd the reimburiement at the getty cash fund. Journal entry worksheet Record the increase of the perty cash fund. Madei Ertar debls belure orith. Exercise 6.10 (Algo) Petty cash fund accounting LO P2 Palmona Company establishes a $280 petty cash fund on January 1. On January 8 , the fund shows $193 in cash along with receipts for the following expenditures: postage. \$36; transportation in, \$12; delivery expenses, \$14; and miscellaneous expenses, \$25, Palmona uses the perpetual system in accounting for merchandise inventory. 1. Prepare the entry to establish the fund on January 1. 2. Prepare the entry to reimburse the fund on January 8 under two separate situations: a. To relmburse the fund. b. To reimburse the fund and increase it to $330. Hint Make two entries. a. To reimburse the fund. b. To reimburse the fand and increase it to 5550 Hint Make two entries. Journal entry worksheet Record the journal eritry to establish the petry cash tand. Whe Enter deblis betwre crecti 2. Prepore the entry to reimburse the fund on January 8 under two separate situations: a. To relmburse the fund b. To reimbutse the fund and increase it to $330. Hint Mahe two entries. Journal entry worksheet 2. Prepare the entry to reimburse the fund on January 8 under two segarate situations. a. To reimburse the fund b. Fo reimbutse the fund and increhse it to 5230Hint. Msice two ertries: Journal entry worksheet Reverd the reimburiement at the getty cash fund. Journal entry worksheet Record the increase of the perty cash fund. Madei Ertar debls belure orith