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Palmona Company establishes a $200 petty cash fund on January 1 On January 8 , the fund shows $38 in cash along with receipts for the following expenditures postage, $74, transportation-in, $29, delivery expenses, $16; and miscellaneous expenses, $43. 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 $450. Hint Make two entries. Paimona Company establishes a $200 petty cash fund on January 1 . On January 8 , the fund shows $38 in cash along with receipts for the following expenditures: postage, \$74, transportation in, \$29, delivery expenses, \$16; and miscellaneous expenses, \$43. Paimona 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 teimburse the fund. b. To reimburse the fund and increase it to $450. Hint Make two entries. Record the journal entry to establish the petty cash fund. Record the reimbursement of the petty cash fund. Record the reimbursement of the petty cash fund. Record the increase of the petty cash fund