On June 1, Cool Salad Dressings creates a petty cash fund with an imprest balance of $350. During June, Jackson Demers, the fund custodian, signs the following petty cash tickets: June 30, prior to replenishment, the fund contains these tickets plus cash of $115. The accounts affected by petty cash payments are Office Supplies, Travel Expense, Delivery Expense, Entertainment Expense, and Merchandise Inventory.

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Data Table i -X Petty Cash Ticket Number Amount Item Office supplies Ticket No. 101 $ 25 Ticket No. 102 Cab fare for executive 20 Ticket No. 103 Delivery of package across town 10 Ticket No. 104 Business dinner 80 Ticket No. 105 Merchandise inventory 130 Print Done Requirement 1. Explain the characteristics and the internal control features of an imprest fund An imprest und has w balance at all times, which equals the sum of plus the v shat support payments from the fund. The internal control feature of an inpreetfund is that it the amount of money for which the fund custodian is responsible Hequirement 2. Un June 30, how much cash should the petty cash and hold batore it is replenished? Before it is replenished the peny cash fund should hold cash of Requirement 3. Joumalize all required entries to create the fund and replenish it Include explanations (Record debts first, then credits Select the explanation on the last line of the foumal entry table. Begin by joumaizing the creation of the fund. Data Accounts and Explanation Debit June Credit Journalze the replenishment of the fund (Prepare a single compound joumal entry) Dale Accounts and explanation Usbit Credit Jung 30 Requirement 4. Make the July 1 entry to increase the fund balance to $400. Include an explanation, and briefly describe what the custodian docs.(Record dcbits first, then credits. Select the wplanation on the last line of the oumal entry table. Make the entry July 1 to increase the fund balance to $100 Date Accounts and Explotion Debit Credit July 1 Briefly describe what the custodian does. The custodian the check and places of currency and con Choose from any listar enter any number in the input helds and then continue to the next