Palmona Co establishes a $250 petty cash fund on January 1. On January 8, the fund shows S143 in cash along with receipts for the following expenditures: postage, $48 transportation-in, $10, delvery expenses, $12, and miscellaneous expenses, $37 Palmona uses the perpetual system in accounting for merchandise inventory Prepare journal entries to () establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $300 on January 8. assuming no entry in part 2 (Hint Make two separate entries for part 3) View transaction list Journal entry worksheet Prepare the journal entry to establish the Petty Cash fund. nces Note: Enter debits before credits. Date Jan 01 Debit Credit Record entry Clear entry View general journal K Prey 8 of 10