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Problem 6-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima

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Problem 6-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory Feb 2 Wrote a $340 check to establish a petty cash fund. 5 Purchased paper for the copier for $14.95 that is immediately used 9 Paid $32.50 shipping charges (transportation-in) on merchandise purchased for resale, teras FOB shipping point. These costs are added to merchandise inventory 12 Paid $8.85 postage to deliver a contract to a client 14 Reimbursed Adina Sharon, the manager, SGG for mileage on her car 20 Purchased office paper for $67.77 that is immediately used 23 Paid a courier $15 to deliver merchandise sold to a customer, terns FOB destination 25 Paid $11.60 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. 27 Paid $51 for postage expenses. 28 The fund had $25.95 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. 28 The petty cash fund amount is increased by $110 to a total of $450. Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postoge expense, merchandise inventory (for transportation-in), and office supplies expense. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entry to establish the petty cash fund. View transaction list Journal entry worksheet 1 Wrote a $340 check to establish a petty cash fund. Note: Enter debits before credits General Journal Date Feb 02 Debit Credit Prey 1 of 1 !!! Next

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