in May. May 1 Prepared a company check for $350 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. a. Paid $109 for janitorial services. b. Paid $82 for miscellaneous expenses. c. Paid postage expenses of $54. d. Paid $27 to The County Gazette (the local newspaper) for an advertisement. e. Counted $89 remaining in the petty cash box. May 16 Prepared a company check for $150 to increase the fund to $500. May 31 The petty cashier reports that $200 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. f. Paid postage expenses of $172. g. Reimbursed the office manager for business mileage, $86. h. Paid $28 to deliver merchandise to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $380.

General Journal tab - Prepare the necessary journal entries. General Ledger and Trial balance tabs -Review the general ledger and trial balance tabs. Impact on Net Income tab - Calculate the impact each entry had on net income, if any.

journal 1 entry:Prepared a company check for $350 to establish the petty cash fund.

journal 2 entry: Prepared a company check to replenish the fund for the following expenditures made since May 1: $109 for janitorial services; $82 for miscellaneous expenses; postage expenses of $54; and $27 to The County Gazette (the local newspaper) for an advertisement. Counted $89 remaining in the petty cash box.

journal 3 entry: Prepared a company check for $150 to increase the fund to $500.

journal 4 entry : The petty cashier reports that $200 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15: postage expenses of $172, reimbursed the office manager for business mileage, $86; and $28 to deliver merchandise to a customer, terms FOB destination.

journal entry 5:The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $380.