QUESTION 2. (40 POINTS) DDE Co., a merchandising company, uses a petty cash fund system. The fund was established on June 1 with a balance of $300. On June 15 the following cash receipts were found in the petty cash box along with an $8 cash balance. Date Receipt no. Description Amount June 2 00201 Office Supplies $75 8 00202 Freight-in 35 10 00203 Travel expenses 90 14 00204 Miscellaneous 85 The fund was replenished on Jun 15th. Required a) Journalize the entries in June that pertain to the operation of the petty cash fund (15 points) b) Explain how internal control principles are applied in a petty cash fund system. (15 points) c) Explain what is a bank reconciliation and why is it needed. (10 points)