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. ok 2 Wrote a $360 check to establish a petty cash fund. 5 Purchased paper for the copier for $16.55 that is immediately used. 9 Paid $40.50 shipping charges (transportation in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. 12 Paid $7.85 postage to deliver a contract to a client. 14 Reimbursed Adina Sharon, the manager, $73 for mileage on her car. 20 Purchased office paper for 567.77 that is immediately used. 23 Paid a courier $18 to deliver merchandise sold to a customer, terms FOB destination 25 Paid $11.30 shipping charges (transportation-in) on merchandise purchased for resale, terns FOB shipping point. These costs are added to merchandise inventory. 27 paid $53 for postage expenses. 28 The fund had $21.65 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 $50 to a total of $410. int ences 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 View journal entry worksheet Credit NO General Journal Date Feb 02 360 1 Petty cash 360 Cash Required 2 > 28 The fund had $21.65 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affecte for a check to reimburse the fund for expenditures. 28 The petty cash fund amount is increased by $50 to a total of $410. 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, 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 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. (Round your answers to 2 decimal places.) $ 18.00 73.00 NAKASHIMA GALLERY Petty Cash Payments Report (for February) Delivery expense Feb. 23 Delivery of customer's merchandise Mileage expense Feb. 14 Reimbursement for mileage Postage expense Feb. 12 Express delivery of contract Feb. 27 Purchased postage stamps Merchandise inventory (transportation-in) Feb. 9 Shipping charges on purchases Feb. 25 Shipping charges on purchases Office supplies expense Feb. 5 Purchased paper for copier Feb. 20 Purchased office paper Total 0.00 0.00 0.00 Required 1 Required 3 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 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 entries for required 2 to both (a) reimburse and (b) increase the fund amount. (Round yo places.) View transaction list Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Date General Journal Debit Credit Feb 28 Record entry Record entry Clear entry View general journal