Palmona Co. establishes a $210 petty cash fund on January 1. On January 8, the fund shows $117 in cash along with receipts for the following expenditures: postage. $40 transportation.in. 11: delivery expenses. $13, and miscellaneous expenses. $29 Palmone uses the perpetual system in accounting for merchandise Inventory Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $260 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3. View transaction list Journal entry worksheet 1 2 3 4 Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits General Journal Debit Credit Date Jan 01 Record entry Clear entry View general Journal No Date General Journal Debit Credit 1 Jan 01 210 Petty cash Cash 2 Jan 08 40 11 Postage expense Merchandise inventory Delivery expense Miscellaneous expenses Cash 13 29 3 Jan 08 No Transaction Recorded