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I dont know if my answers are correct so please ignore them. Theres 4 parts to this question. Please help thank you! Palmona Co establishes

I dont know if my answers are correct so please ignore them. Theres 4 parts to this question. Please help thank you! image text in transcribed
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Palmona Co establishes a $210 petty cash fund on January 1 On January 8, the fund shows $107 in cash along with receipts for the following expenditures postage. $46; transportation-in, $10; delivery expenses, $12, and miscellaneous expenses, $35. 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 $260 on January 8, assuming no entry in part 2. Hint Make two separate entries for part 3. View transaction list Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Credit Date Jan 08 Debit 46 General Journal Postage expense Merchandise inventory Delivery expense Miscellaneous expenses Cash 10 12 35 103 Journal entry worksheet

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