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Please answer clearly!! thank you Kiona Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash

image text in transcribedPlease answer clearly!! thank you

Kiona Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year). May 1 Prepared a company check for $450 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. May 15 a. Paid $140.40 for janitorial expenses. May 15 b. Paid $114.62 for miscellaneous expenses. May 15 c. Paid postage expenses of $78.30. May 15 d. Paid $102.87 to Facebook for advertising expense. May 15 e. Counted $34.51 remaining in the petty cashbox. May 16 Prepared a company check for $200 to increase the fund to $650. May 31 The petty cashier reports that $452.13 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31 f. Paid postage expenses of $69.85. May 31g. Reimbursed the office manager for mileage expense, $55.61. May 31 h. Paid $57.41 in delivery expense for products to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving a total of $600. Required: Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31 , and to reflect any increase or decrease in the fund balance on May 16 and May 31. Note: Round your answers to 2 decimal places. 1 Prepared a company check for $450 to establish the petty cash fund. 2 Prepared a company check to replenish the fund for the expenditures made since May 1. 3 Prepared a company check for $200 to increase the fund to $650. 4 Prepared a company check to replenish the fund for the expenditures made since May 15. 5 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving a total of $600. Note: = journal entry has been entered

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