Homework: Problem 7-25A Score: 0 of 20 pts P7-25A (similar to) Save 1 of1(0 complete) HW Score: 0%, 0 of 20 pts Question Help On June 1, Fab Salad Dressings creates a petty cash fund with an imprest balance of $350. During June, Michael Martell, the fund custodian, signs the following petty cash tickets: EEB (Click the icon to view the petty cash tickets.) On June 30, prior to replenishment, the fund contains these tickets plus cash of $90.The accounts affected by petty cash payments are Office Supplies Travel Expense, Delivery Expense, Entertainment Expense, and Merchandise Inventory Read the requirements. Requirement 1. Explain the characteristics and the internal control features of an imprest fund An imprest fund has fund. The internal control feature of an imprest fund is that it balance at all times, which equals the sum of plus the that support payments from the the amount of money for which the fund custodian is responsible. Click to select your answer(s) and then click Check Answer parts remaining Requirements 1. Explain the characteristics and the internal control features of an imprest fund 2. On June 30, how much cash should the petty cash fund hold before it is replenished? explanations an explanation, and briefly describe what the custodian does 3. Journalize all required entries to create the fund and replenish it. Include 4. Make the July 1 entry to increase the fund balance to $450. Include Print Done Data Table Petty Caslh Ticket Number 101 102 103 104 105 Item Amount Office supplies Cab fare for executive Delivery of package across town Business dinner Merchandise inventory 10 45 75 90 Print Done