question 6t journal entry 1

journal entry 2

journal entry 3

journal entry 4

Palmona Co. establishes a $280 petty cash fund on January 1 On January 8, the fund shows $185 in cash along with receipts for the following expenditures: postage. $38, transportation-in, $14delivery expenses $16, and miscellaneous expenses, $27. Palmona uses the perpetual system in accounting for merchandise inventory Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $330 on January 8, assuming no entry in part 2. Hint Make two separate entries for part 3 View transaction list Journal entry worksheet Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Date General Journal Debit Credit Jan 08 Record entry Clear entry View general journal Journal entry worksheet Record the increase of the petty cash fund. Note: Enter debits before credits. Date General Journal Debit Credit Jan 08 Record entry Clear entry View general journal