Question 1 Pyramids Co. establishes a $270 petty cash fund on January 1. On January 8, the fund shows $159 in cash along with receipts for the following expenditures: postage, $49; transportation-in, $11; delivery expenses, $13; and miscellaneous expenses, $38. Pyramids uses the perpetual system in accounting for merchandise inventory. Prepare journal entry to establish the fund on January 1, reimburse it on January 8, and reimburse the fund and increase it to $320 on January 8, assuming no entry in part 2. (Hint: Make two separate entries for part 3.) Question 2 Wojooh Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on May 31, 2015, its Cash account shows a $29,900 debit balance. The company's May 31 bank statement shows $28,200 on deposit in the bank. a. The May 31 bank statement included a $220 debit memorandum for bank services, the company has not yet recorded the cost of these services. b. Outstanding checks as of May 31 total $6,800. C. May 31 cash receipts of $7,400 were placed in the bank's night depository after banking hours and were not recorded on the May 31 bank statement d. In reviewing the bank statement, a $520 check written by Mazaya Company was mistakenly drawn against Wojooh's account e. A debit memorandum for $360 refers to a $360 NSF check from a customer; the company has not yet recorded this NSF check. Prepare a bank reconciliation for the company using the above information (NSF stands for "Non- Sufficient Funds, in other words it's a bounced check)