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 Dobit Credit 1 Jan 01 150 Petty cash Cash 150 2 Jan 08 Postage expense Merchandise inventory Delivery expense Miscellaneous expenses Cash OOOO 36 x 11 13 25 853 3 Jan 08 50 Petty cash Cash 3 50 4 Jan 08 Advertising expense X