Palmona Co, establishes a $280 petty cash fund on January 1, On January 8, the fund shows $167 in cash along with receipts for the following expenditures: postage. $47, transportation-in. $14. delivery expenses. $16: and miscellaneous expenses. $36. Palmone uses the perpetual system in accounting for merchandise Inventory Prepare journal entries to (1) establish the fund on January (2) reimburse it on January 8, ond (3) both reimburse the fund and Increase it to $330 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3 View transaction ist Journal entry worksheet