Exercise 6-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $150 petty cash fund on January 1, On January 8, the fund shows $61 in cash along with receipts for the following expenditures: postage. $38; transportation-in, $11: delivery expenses, $13; and miscellaneous expenses, $27. Palmona uses the perpetual system in accounting for merchandise Inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $200 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3. Answer is not complete. No Date General Journal Debit Credit 1 Jan 01 150 Petty cash Cash 150 2 Jan 0B Postage expense Merchandise inventory Delivery expense Miscellaneous expenses Cash ololololo 36 3 11 13 25 853 3 Jan 08 50 Petty cash Cash 3 50 4 Jan 08 Advertising expense QS 6-10 Days' sales uncollected LO A1 The following annual account balances are from Armour Sports at December 31, Accounts receivable Net sales Year 2 Year 1 $ 22,563 $ 60,363 381,315 953,624 Complete the below table to calculate the number of days' sales uncollected for the years Year 1 and Year 2. (Round your "Days' Sales Uncollected" to 1 decimal place.) 7 Choose Numerator: Days Sales Uncollected Choose Denominator: X X Days - Days' Sales Uncollected Days' sales uncollected days days x Year 2: Year 1: x - Is the company's collection of receivables Improving? Yes O No