Palmora Company establishes a $300 petty cash fund on January 1 On January 8 , the fund shows $207 in cash along with receipts for the following expenditures: postage, \$38; transportation-in, \$13; delivery expenses, \$15; and miscellancous expenses, $27. Palmona uses the perpetual system in accounting for merchandise inventory. 1. Prepare the entry to establish the fund on Jamuary 1. 2. Prepare the entry to relmburse the fund on January 8 under two separate situations: a. To telmburse the fund. b. To reimburse the fund and increase it to $350. Hint Make two entrics. Journal entry worksheet Woter fiter debies before creda