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inciples of Accounting udent Name Student ID Required: Please complete the following Exercise. QS 7-5 Petty cash L04 WilsonArt set up a petty cash fund of $200 on March 1, 2017. On March 17, the petty cash box contained $19 and the following receipts: $75 for printing, $48 for taxi fare, and 856 for delivery expense. Record the reimbursement of the fund on March 17 QS 7-6 Petty cash L04 Canmore Consulting established a $100 petty cash fund on September 1, 2017. On September 23, the petty cash box contained $7 and receipts for the following expenses: 832 for entertainment expense (lunch with a client), $45 for computer repair, and $18 for delivery expense. Record the reimbursement of the fund on September 23, PATION PROBLEM 14 3 Cloudy O ED 3 ch fund on September 23. MID-CHAPTER DEMONSTRATION PROBLEM Castillo Company, an HR Consulting firm, established a $250 petty cash fund on February 10. On Febru ary 28, the fund trad 11.14 remaining in cash and receipts for these expenditures: postage, $10.51; one supplies, 850.00, and repair expenses, $10.50. Prepare: 2. The February 10 entry to establish the fund, b. The February 28 entry to record the fund transactions and replenish it, and c. Independent of (b), the February 28 entry to record the fund transactions and reduce the fund to $100 Analysis Component: Assume that there was no receipt for the $50.00 of office supplies. Should this amount be reimbursed? Explain why or why not. Planning the Solution Total petty cash receipts. Calculate cash required to replenish petty cash. Caleulate cash overl(short), if any. Prepare journal entries as required. Prepare an answer to the analysis