Problem 6-2A (Algo) Establishing, reimbursing, and adjusting petty cash LO P2 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 $300 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 $93.60 for janitorial expenses. May 15 b. Paid $76.41 for miscellaneous expenses. May 15 c. Paid postage expenses of $52.20. May 15 d. Paid $68.58 to facebook for advertising expense, May 15 e. Counted $23.01 remaining in the petty cashbox. May 16 Prepared a company check for $200 to increase the fund to $50e. May 31 The petty cashier reports that $354.32 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31t. Paid postage expenses of $53.73. May 31 9. Reimbursed the office nanager for mileage expense, 342.78 . May 31 h. Paid $44.17 in detivery expense for products to a customer, teras foB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by 550 , leaving a 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 , (Round your answers to 2 decimal places.) Journal entry worksheet Required: Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31 in the fund balance on May 16 and May 31. (Round your answers to 2 decimal places.) Prepared a company check for $300 to establish the petty cash fund. 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 $500. 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 $450