QUESTION 1 PETTY CASH Situation: You are the accounting clerk of an Italian Caf, and you are responsible for the management of the petty cash. You must create a petty cash fund. Open the Excel file for petty cash register and enter the transactions below. Total each column: enter formulas for sums and subtractions. Save the Excel file as acct2midtermquest1 and insert to Moodle when finished. 1. Determine the amount of the cheque no. 45 to replenishing the petty cash to the initial $200.00, if at the end of the week the amount was $29.50 Here are the transactions of the first week of the month. 1. June 1, 2019, deposit in the account petty cash: amount of $200.00, for the constitution of the Fund. This amount comes from the bank account. 2. June 2, release of funds for the purchase of office supplies, the amount before taxes $ 13.04, GST $ 0.66 and QST $1.30. Total $15.00 3. June 3, delivery expense $ 5.59 fees before taxes, GST $ 0.27 and QST $ 0.55 = $6.41 4. June 4, out of funds for gas expenses for delivery truck $50.00: GST $2.17 QST $4.33, amount before taxes $43.50 5. June 5, out of funds for a small celebration with customers, promotion and representation $65.00, amount before taxes $56.53, $2.83 GST and QST $5.64 6. June 5 release of funds for taxi expenses $26.10 before taxes GST $1.30 QST $2.60= 30.00$ Prepare the journal entries on General Journal excel file, record the expenses and prepare the journal entry to replenish the petty cash fund as of June 8th 2019. Here is the partial chart of accounts. 2 2 Caf Italien Partial chart of accounts June 1st 2019 1200 Bank 1210 1240 1250 4995 5110 Petty cash GST on purchase QST on purchase Petty cash Surplus Office supplies Delivery expense Gas expense Promotion and representation Miscellaneous expenses (taxi) Petty cash Deficit 5120 5130 5140 5150 5995