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Nakashima Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $340 check, cashed it, and gave the

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Nakashima Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $340 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Addison, the petty cashier 5 Purchased paper for the copier for $15.15 that is immediately used 9 Paid $38.58 coD shipping charges on merchandise purchased for resale, terms FOB shipping point. Nakashima uses the perpetual system to account for merchandise inventory 12 Paid $8.95 postage to deliver a contract to a client 14 Reimbursed Adina Sharon, the manager, $67 for mileage on her car 28 Purchased stationery for $67.77 that is immediately used 23 Paid a courier $16 to deliver merchandise sold to a customer, terms FOB destination 25 Paid $11.28 COD shipping charges on merchandise purchased for resale, terms FOB shipping point 27 Paid $51 for postage expenses 28 The fund had $24.83 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures 28 The petty cash fund amount is increased by $148 to a total of $488 Requlred 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. Sort the payments into the appropriate categories and total the expenditures in each category. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount

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