Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount.

Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashimo uses the perpetual system to account for merchandise inventory. Fab. 2 Wrote a $240 check to estabilan a petty cash fund. 5 Perchased papes ?o= the copie: ?o= $15.55 that is immediately 22d. 9 Paid $24.50 Shipping charges (transportation-in) on merchandise purchased ?o= seale, tema FOB Shipping point. These coats are added to merchandise inventory. 12 P214 $7.05 postage to deliver a contract to a client. 14 Reimbued Adina Shason, the manager, 574 ?o= mileage on her cas. 20 Purchased orice paper 20= $66.77 that 1a immediately used. 23 Paid a courie: $19 to deliver merchandise sold to a customer, tema FOB destination. 25 Paid $10.30 ahipping charges (tzansportation-in) on merchandise purchased ?os sesale, tema FOB shipping point. These coata are added to merchandise inventory 27 Paid 657 tos postage empenaea. ze The fund had $24.ez semaining in the petty cashbox. Sorted the petty cash receipts by accounts a ested and exchanged them ?o= : check to reimburse the fund ?o= expenditusea. 28 The petty cash ?und amount is increased by $120 to a total o: $450. Required: 1. Prepare the journal entry to establish the petty cash fund. 2 Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense. merchandise inventory (for transportation-in), and office supplies expense. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the journal entry to establish the petty cash fund. View transaction list Journal entry worksheet 1 Wrote: $340 check to establish a petty cash fund. Note: Enter debts before credits Date General Journal Debit Credit Feb 02 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. (Round your answers to 2 decimal places.) NAKASHIMA GALLERY Petty Cash Payments Report (for February Delivery expense Milleage expense Postage expense 0.00 Merchandise Inventory (transportation-in) 0.00 Office supplies expense 0.00 Total Required 1 Required 2 Required 3 Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet