Kiona Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year). 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. May 15 a. Paid $199.2 for janitorial expenses. May 15 b. Paid $89.15 for miscellaneous expenses. May 15 c. Paid postage expenses of $60.90. May 15 d. Paid $80.01 to Facebook for advertising expense. May 15 e. Counted $26.84 remaining in the petty cashbox. May 16 Prepared a company check for $200 to increase the fund to $550. May 31 The petty cashier reports that $360.27 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31f. Paid postage expenses of $59.10. May 31 g. Reimbursed the office manager for mileage expense, \$47.05. May 31 h. Paid $48.58 in delivery expense for products 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 $50, leaving a total of $590. Requlred: Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31, and to reflect any increase or decrease in the fund balance on May 16 and May 31. Note: Round your answers to 2 declmol places. Journal entry worksheet 2345 Prepared a company check for $350 to establish the petty cash fund. Note: Enter debits before credits. Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. February 2 Wrote a $360 check to establish a petty cash fund. February 5 Purchased paper for the copier for $15.15 that is immediately used. February 9 Paid \$42.50 shipping charges (transportation-in) on merchandise purchased for resale, terms foB shipping point. These costs are added to merchandise inventory. February 12 Paid $8.55 postage to deliver a contract to a client. February 14 Reimbursed Adina Sharon, the manager, \$75 for mileage on her car. February 29 Purchased office paper for $66.77 that is immediately used. February 23 Paid a courier $17 to deliver merchandise sold to a customer, terms foB destination. February 25 Paid \$11.70 shipping charges (transportation-in) on merchandise purchased for resale, terms FoB shipping point. These costs are added to merchandise inventory. February 27 Paid $57 for postage expenses. February 28 The fund had $21.48 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged then for a check to reimburse the fund for expenditures. February 28 The petty cash fund amount is increased by $50 to a total of $410. Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. Complete this question by entering your answers in the tabs below. Prepare the journal entry to establish the petty cash fund