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Palmona Company establishes a $180 petty cash fund on January 1. On January 8 , the fund shows $71 in cash along with receipts for the following expenditures: postage, $49; transportation-in, $10; delivery expenses, $12; and miscellaneous expenses, $38. Palmona uses the perpetual system in accounting for merchandise inventory. 1. Prepare the entry to estabilish 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 $230. Hint Make two entries Journal entry worksheet 2 Record the journal entry to establish the petty cash fnd. Note: Enter debits before credits. Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Journal entry worksheet 1 Note: Enter debits before credits