On June 1. Party Salad Dressings creates a petty cash fund with an imprest balance of $350. During June, Jach (Click the icon to view the petty cash tickets.) On June 30 , prior to replenishment, the fund contains these tickets plus cash of $50. The accounts affected by pe Expense, and Merchandise Inventory. Read the requirements: Requirement 1. Explain the characteristics and the internal control features of an imprest fund. An imprest fund has balance at all times, which equals the sum of plus the imprest fund is that it the amount of money for which the fund custodian is responsible. Requirement 2. On June 30 , how much cash should the petty cash fund hold before it is replenished? Before it is replenished, the petty cash fund should hold cash of Requirement 3. Journalize all required entries to create the fund and replenish it include explanations. (Record debits Begin by joumalizing the creation of the fund