Palmona Company establishes a $210 petty cash fund on January 1. On January 8, the fund shows $91 in cash along with receipts for the following expenditures postage $50, transportation-in, $14: delivery expenses. $16, and miscellaneous expenses $39. 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 $260. Hint Make two entries. View transaction list Journal entry worksheet 2 3 4 1 Record the journal entry to establish the petty cash fund NoteEnter detits before credits General Journal Debit Credit Date January 01