on 2. Halifax Fitness Consulting completed the following petty cash transactions during February 2020: Feb. 2 Prepared a $360 cheque, cashed it, and gave the proceeds and the petty cash box to Nick Reed, the petty cashier. 5 Purchased paper for the copier, $22. 9 Paid $38 COD charges merchandise purchased for resale. Assume Halifax Fitness Consulting uses the perpetual method to account for merchandise inventory. 12 Paid $17 postage to express mail a contract to a client. 14 Reimbursed Kim Marin, the manager of the business, $148 for business auto expenses. 20 Purchased stationery, $65. 23 Paid a courier $8 to deliver merchandise sold to a customer. 25 Paid $20 COD charges on merchandise purchased for resale. 28 Paid $24 for stamps. 28 Reed sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures. However, there was only $11 in cash in the fund. In addition, the size of the petty cash fund was increased to $500. Required: 1. Prepare a journal entry to record establishing the petty cash fund. 3. Prepare a summary of petty cash payments. 4. Prepare the journal entry the journal entry to record the reimbursement and the increase of the fund