Hang Out Night Club maintains an imprest petty cash fund of 5250, which is under the control of Sandra Morgan At March 31. the fund holds 524 cash and petty cash tickets for office supplies. 5192 and delivery expenso, 545 Read the requirements Requirement 1. Complete the following to explain how an imprest petty cash system works Maintaining the Petty Cash account at its is the nature of an imprest system. The imprest system requires that, the petty cash box contains This clearly identifies the and it is the system's main internal control feature credits Select the explanation on the last line of the journal entry table.) Requirement 2. Journalize the establishment of the petty cash tund on March 1 and the replenishment of the fund on March 31 (Record debits first, then Begin by Journalizing the establishment of the petty cash fund on March 1 Date Accounts and Explanation Debit Credit Potty Cash 250 V Mar. 1 250 Cash To open the petty cash ind. Now journalize the replenishment of the fund on March 31 (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Mar 31 Office Supplies 192 Delivery Expense 45 Cash Short and Over 13 Cash 226 To replenish the potty cash fund ad the requirements dit Select the explanation on the last line of the journal entry table> egin by journalizing the establishment of the petty cash fund on March 1 Date Accounts and Explanation Debi Mar 1 Petly Cash 250 Cash Credit 350 To open the petty cash und ow Journalce the replenishment of the fund on March 31 (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit Mar 31 Office Supplies 192 Delivery Expense 45 Cash Short and Over 13 Cash 226 To replenish the petly cash fund Requirement 3. Prepare a T-account for Pety Cash and post to the account What is the balance of the Potty Cush account at all times Post the applicable entry to the Petty Cash T-account below Use a "Bal reference to show the ending balance of the account Petty Cash What is the balance of the Petty Cash account at all times? The Potty Cash balance at all times is Choose from any list or enter any number in the input fields and then continue to the next question Save for later 10:42 PM 7/10/2021 86F Rain coming BANGLO