Palmona Company establishes a $200 petty cash fund on January 1. On January 8, the fund shows $103 in cash along with receipts for the following expenditures: postage. $38; transportation-in. $15, delivery expenses, $17; and miscellaneous expenses, $27. Palmona uses the perpetual system in accounting for merchandise inventory. 1. Prepare the entry to establish the fund on January 1 2. Prepare the entry to reimburse the fund on January 8 under two separate situations: a. To reimburse the fund. b. To reimburse the fund and increase it to $250. Hint Make two entries. View transaction list Journal entry worksheet Record the journal entry to establish the petty cash fund. Note: Enter debits before credits General Journal Debit Credit Date January 01 Record entry Clear entry View general Journal Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits General Journal Debit Credit Date January 08 Record entry Clear entry View general Journal Journal entry worksheet