Question: Problem 9: Prada Company established a petty cash fund to help ensure internal control over its small expenditures. The following are the transactions affecting the petty cash fund for the month of May 2019: 1. On May 2, the company established a petty cash fund in the amount P8,000. 2. The following were paid by the petty cash custodian from May 2 through May 20: Freight on merchandise purchases P2.500 Freight on merchandise sold 3,000 Supplies purchased 800 JOUs from employees 1,200 3. On May 18, the employees paid their LOUs as indicated above (the advances were granted in May 10: the proceeds from such collection were returned to the petty cash fund). 4. On May 20, the fund was replenished.5. Payments from petty cash fund from May 20 through May 31 are as follows: Freight on merchandise purchases P 1.200 Transportation of messenger 150 320 Medicines for employees JOUs from employees 500 6. A count of the fund on May 31 revealed bills and coins in the petty cash amounting to P5.700. The company's reporting period ends May 31. Required: Prepare journal entries for the above transactions, including any adjustments on May 31, 2019