On January 1, Foster Company establishes a petty cash fund bv issuing a check for $150 to Jill Nott, the custodian of the petty cash fund. On January 31 , Jill Nott submitted the following paid petty cash receipts for replenishment of the netter rach fiund. On January 31, in addtition to the receipts, there was \$7 cash left in the petty cash drawer. Prepare the journal entries required to: Establish the petty cash fund on January 1 Replenish the fund on January 31 Increase the petty cash fund to $200 on February 1 Describe some internal control procedures that need to be applied to a petty cash fund