On April 30, Midwest Company established a petty cash fund of $1000 On May 1, a disbursement of $355 was made from the fund for payment of delivery expense. The petty cash account has not been replenished. How would the disbursement effect the financial statements on May 17 Multiple Choice Petty cash increases and cash decreases by $355 Delivery expense increases and petty cash decreases by $355 Delivery expense increases and cash decreases by $355 The disbursement has no effect on the financial statements