Exercise 8-10 Petty cash fund accounting LO P2 Polmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage, $74, transportation-in, $29, delivery expenses, $16, and miscellaneous expenses, S43. 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 $450 on January 8, assuming no entry in part 2. Hint Make two separate entries for part 3. View transaction list Journal entry worksheet S 2 3 4 Prepare the journal entry to establish the petty cash fund. Note Enter debits before credits General Journal Debit Credit Date Jan 01 Centry View general journal Exercise 8-10 Petty cash fund accounting LO P2 Palmone Co establishes a $200 petty cash fund on January 1 On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage. $74, transportation-in, $29, delivery expenses, $16. and miscellaneous expenses, $43. Palmone 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 $450 on January 8, assuming no entry in part 2. Hint. Make two separate entries for part 3. View transaction list Journal entry worksheet Lave Exercise 8-10 Petty cash fund accounting LO P2 Paimona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage. $74, transportation-in, $29, delivery expenses, $16; and miscellaneous expenses, $43. Palmone uses the perpetual system in accounting for merchandise inventory Prepare journal entries to (1) establish the fund on January 1, (2) reimburselt on January 8, and (3) both reimburse the fund and increase it to $450 on January 8, assuming no entry in pan 2. Hint Make two separate entries for pan 3 View transaction list Journal entry worksheet 1 2 3 4 Record the reimbursement of the petty cash fund as Enlardwhite before General Journal Debit Credit Date dan od Exercise 8-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage. $74. transportation-in, $29, delivery expenses $16, and miscellaneous expenses, $43. 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 $450 on January 8, assuming no entry in part 2. Hint Make two separate entries for part 3. View transaction list Journal entry worksheet 1 2 3 4 Record the increase of the lash fund. Note Enter debits before credits General Journal Debit Credit Date Jan 08 CY View Prey Ne