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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

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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 $350 check to establish a petty cash fund. February 5 Purchased paper for the copier for $14.55 that is imediately used. February 9 paid \$36.50 shipping charges (transportation-in) on merchandise purchased for resale, terms Fob shipping point. These costs are added to merchandise inventory. February 12 Paid \$8.85 postage to deliver a contract to a client. February 14 Reimbursed Adina Sharon, the manager, $67 for mileage on her car. February 20 Purchased office paper for $67.77 that is immediately used. February 23 Paid a courler $17 to deliver merchandise sold to a customer, terms foe destination. February 25 Paid $11,30 shipping charges (transportation-in) on merchandise purchased for resale, terms Fob shipping point. These costs are added to merchandise inventory. February 27 Paid $58 for postage expenses. February 28 The fund had $25.70 remaining in the petty cashbok. Sorfed the petty cash receipts by accounts affected and exchanged thes for a check to neinburse the fund for expenditures: February 28 . The petty cash fund amount is increased by $90 to a total of $440. Required: 1. Prepare the journal entry to estabilish 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 joumal entries for required 2 to both (a) reimburse and (b) increase the fund amount. Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. (Round your answers to 2 decimal places.) Journal entry worksheet Notes Enter debits before credits

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