Journalize and post petty cash fund transactions. (LO 5) (a) July 15 Cash over 3.80 (b) Aug. 31 balance 150 P7-2B De Smet SA maintains a petty cash fund for small expenditures. The following transactions occurred over a 2-month period. July 1 15 Established petty cash fund by writing a check on Star Bank for 100. Replenished the petty cash fund by writing a check for 94.90. On this date, the fund consisted of 5.10 in cash and the following petty cash receipts: freight-out 51.00, postage expense 20.50, entertainment expense 23.10, and miscellaneous expense 4.10. 31 Replenished the petty cash fund by writing a check for 92.90. At this date, the fund consisted of 7.10 in cash and the following petty cash receipts: freight- out 43.50, charitable contributions expense 20.00, postage expense 20.10, and miscellaneous expense 9.30. Aug. 15 Replenished the petty cash fund by writing a check for 98.00. On this date, the fund consisted of 2.00 in cash and the following petty cash receipts: freight-out 40.20, entertainment expense 21.00, postage expense 14.00, and miscellaneous expense 19.80. 16 31 Increased the amount of the petty cash fund to 150 by writing a check for 50. Replenished the petty cash fund by writing a check for 137.00. On this date, the fund consisted of 13 in cash and the following petty cash receipts: freight- out 74.00, entertainment expense 43.20, and postage expense 17.70. Instructions (a) Journalize the petty cash transactions. (b) Post to the Petty Cash account. (c) What internal control features exist in a petty cash fund?