Problem 2: Preda Company established a petty cash fund to help ensure internal control over its small expenditures. The following are the transactions affecting the petty cash fund for the month of May 2019: 1. On May 2, the company established a petty cash fund in the amount of P8,000. 2. The following were paid by the petty cash custodian from May 2 through May 20: Freight on merchandise purchases Freight on merchandise sold Supplies purchased IOUS from employees 2,500 3,000 800 1,200 3. On May 18, the employees paid their IOUS as indicated above (the advances were granted on May 10, the proceeds from such collection were returned to the petty cash fund). 4. On May 20, the fund was replenished. 5. Payments from petty cash fund from May 20 through May 31 are as follows: 1,200 Freight on merchandise purchases Transportation of messenger Medicines for employees IOUs from employee 150 320 500 The company's reporting period ends May 31. Prepare journal entries for the above transactions, including any adjustments at May 31, 2019