On April 30, 2009, Northern Company established a petty cash fund of $1,000. On May 1, 2009, a disbursement of $245 was made from the fund for payment of delivery expense. What entry should be made on May 1, 2009 to record this disbursement? a. debit delivery expense, $245; credit cash, $245. b. debit petty cash, $245; credit cash, $245 c. debit delivery expense, $245; credit petty cash $245. d. no entry necessary. 3. 4. Which o the following entries would be required to establish a $500 petty cash fund? Miscellaneous Expenses a. Petty Cash 500 500 Cash 500 b. Petty Cash 500 Petty Cash 500 c. Miscellaneous Expenses 500 Petty Cash d. Cash 500 500 5. Which of the following statements about the Petty Cash account and the Pety Cash Fund is correct? The Petty Cash account is recorded on the books, the Fund is maintained by a Petty Cash custodian. a. The Petty Cash account balance is included in the end of year Balance Sheet cash, the Petty Cash Fund balance is not. b. The Petty Cash Fund is periodically reimbursed, the Petty Cash account may be adjusted. c. d. All are correct