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Help Save&b Nakashim a Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $340 check, cashed it,

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Help Save&b Nakashim a Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $340 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Che Addison, the petty cashier. 5 Purchased bond paper for the copier for $15.95 that is irmediately used. 9 Paid $38.50 coD shipping charges on merchandise purchased for resale, terms FOB shipping point. Nakashima uses the perpetual system to account for merchandise inventory. 12 Paid $8.45 postage to express mail a contract to a client 14 Reimbursed Adina Sharon, the manager, $74 for business mileage on her car. 20 Purchased stationery for $66.77 that is immediately used 23 Paid a courier $16 to deliver merchandise sold to a customer, terms POB dest 25 Paid $10.20 coD shipping charges on merchandise purchased for resale, ination terms FOB shipping point. Paid $53 for postage expenses. accounts affected and exchanged them for a check to reimburse the fund for expenditures. 28 The fund had $23.44 remaining in the petty cash box. sorted the petty cash receipta by n the petty cash box. Sorted the petty cash receipts by 2 28 The petty cash fund amount is increased by $110 to a total of $450. Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense merchandise inventory (for transportation-in), and office supplies expense. Sort the payments into the appropriate categories and tota the expenditures in each category 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount K Prev 5 of 7 Next arch

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