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 $30.5e shipping charges (transportation-in) on merchandise purchased for resale, teres FOB shipping point. These costs are added to merchandise inventory 12 Paid $7.55 postage to deliver a contract to a client. 14 Reimbursed Adina Sharon, the manager, $73 for mileage on her car. 2e Purchased office paper for $67.77 that is immediately used. 23 Paid a courier $24 to deliver merchandise sold to a customer, terms FOB destination. 25 Paid $10.40 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. 27 Paid $55 for postage expenses 28 The fund had $24.97 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged thee for a check to reimburse the fund for expenditures. 28 The petty cash fund amount is increased by $160 to a total of $50e. ces 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 2 Required 3 Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. (Round your answers to 2 decimal places.) Required 1 View transaction list Journal entry worksheet plete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet 1 2 Record the 'reimbursement of the petty cash fund. Note: Enter debits before credits. Debit Credit Date General Journal Feb 28 Cash over and short Utilities expense View general journal Clear entry Record entry Next 1 of 1 Prev