need cash over and short amount and cash amount.

Problem 8-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashimo uses the perpetual system to account for merchandise inventory Feb. 2 wrote a $350 check to establish a petty cash fund. 5 Purchased paper for the copier for $14.55 that is immediately used. 9 Paid $34.50 shipping charges (transportation-in) on merchandise purchased for resale, terus FOB shipping point. These costs are added to merchandise inventory. 12 paid $8.35 postage to deliver a contract to a client. 14 Reimbursed Adina Sharon, the manager, $72 for mileage on her car. 20 Purchased office paper for $68.77 that is immediately used. 23 Paid a courier $20 to deliver merchandise sold to a customer, terms FOB destination. 25 Paid $11.80 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. 27 Paid $57 for postage expenses. 28 The fund had $23.49 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 $140 to a total of $490. 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. Pius. View transaction list View journal entry worksheet No Date Credit Feb 28 General Journal Delivery expense Mileage expense Postage expense Merchandise inventory Office supplies expense Cash over and short Cash Debit 20.00 72.00 65.35 46.30 83.32 Feb 28 140.00 Petty cash Cash 140.00 Required 2 Required )