Kiona Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May. May 1 Prepared a company check for $300.00 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. May 15 a. Paid $88.00 for janitorial services. May 15 b. Paid $53.68 for miscellaneous expenses. May 15 c. Paid postage expenses of $53.50. May 15 d. Paid $47.15 to Facebook for advertising expense. May 15 e. Counted $62.15 remaining in the petty cash box. May 16 Prepared a company check for $200.00 to increase the fund to $500.00. May 31 The petty cashier reports that $288.20 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31 f. Paid postage expenses of $147.36. May 31 g. Reimbursed the office manager for business mileage, $23.50. May 31 h. Paid $34.75 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 $100.00, leaving a total of $400.00. Requirement General Journal General Ledger Trial Balance Impact on Income Prepare the journal entries for each of the petty cash transactions. Round the final answers to 2 decimal places. View transaction list Journal entry worksheet Prepared a company check for $300.00 to establish the petty cash fund. Note: Enter debits before credits. Date Account Title Debit Credit May 01 Dates: May 01 to: April 30 General Ledger Account Cash Merchandise inventory Debit Credit No. Debit Credit No. Date April 30 Balance 2.505 Date April 30 Balance 4.900 Kiona, Capital Service revenue No. Debit Credit No. Debit Credit Date April 30 Balance 2.500 Date April 30 Balance 10,000 Janitorial expenses Debit Credit Insurance expense Debit Credit No. Date No. Date Balance Balance 400 April 30 April 30 1.200 Rent expense Debit Postage expenses Debit No. Date Credit No. Balance 2.300 Credit Date April 30 Balance 100 April 30 Miscellaneous expenses Debit Credit Mileage expense Debit Credit No. No. Date Date April 30 Balance 650 Balance 60 April 30 Advertising expense Debit Credit Delivery expense Debit Credit No. Balance No. Balance Date April 30 Date April 30 300 85 Kiona Company Trial Balance April 30, 2020 Account Title Credit $ Debit 2,505 4,900 2,500 10,000 400 Cash Merchandise inventory Kiona, Capital Service revenue Janitorial expenses Insurance expense Rent expense Postage expenses Miscellaneous expenses Mileage expense Advertising expense Delivery expense Total 1,200 2,300 100 650 60 300 85 $ 12,500 $ 12,500 Indicate the impact each transaction had on net income. Decreases to net income should be indicated with a minus sign. Dates: May 01 to: April 30 Transaction Impact transaction has on Amount of increase income: (decrease) May 1) Prepared a company check for $300 to establish the petty cash fund. May 15) Prepared a company check to replenish the fund for the following expenditures made since May 1: $88 for janitorial services, $53.68 for miscellaneous expenses, postage expenses of $53.50, $47.15 to Facebook for advertising expense. Counted $62.15 remaining in the petty cash box. May 16 Prepared a company check for $200 to increase the fund to $500. May 31 The petty cashier reports that $288.20 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 $147.36, business mileage, $23.50, $34.75 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 $100, leaving a total of $400. In total, net income increased (decreased) by