Question 1 [25 points] Courtland Corp. completed the following petty cash transactions during July and August in 2014: July 1: Drew a $300.00 cheque, cashed it, and gave the proceeds and the petty cash box to Susan Montgomery, the petty cashier. July 2 Paid $49.75 for janitorial services. July 7 Purchased office file folders, $41.40, to be used this month. July 19 Paid $47.40 COD charges on merchandise purchased for resale (assume a perpetual inventory system). July 31 Susan Montgomery sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures. However, there was $163.90 in cash in the fund. August 13 Purchased office file folders, $37.05, to be used this month. August 20 Paid $49.40 courier charges to deliver merchandise to a customer. August 25 Purchased office supplies for $27.15, to be used this month. August 26 Purchased paper for the office copier, $40.10, to be used this month. August 26 Paid $30.90 to mail a contract to a client. August 31: Susan Montgomery sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures. There was $115.40 in cash in the fund. Prepare three journal entries: one to establish the petty cash fund, the second to record the reimbursement of the fund at the end of the first month, and the last to record the reimbursement of the fund at the end of the second month. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). Date General Journal Account/Explanation Page GJ6 F Debit Credit