Requirements 1. Explain how an imprest petty cash system works. 2. Journalize the establishment of the petty cash fund on March 1 and the replenishment of the fund on March 31. 3. Prepare a T-account for Petty Cash, and post to the account. What is the balance of the Petty Cash account at all times? Print Done Just Hangin' Night Club maintains an imprest petty cash fund of $250, which is under the control of Sandra Morgan. A March 31, he und hocash and petty cash fickets for office wie, 1201, and delivery expense, 5% Reed the fie Requirement Complete the following to explain how an impresi petty cash yie wote Maintaining e Perry Cash account in the nature of an impression. The rest enregies that, they cash box contain This deaty se W and is the w's main intamal contre Requirement 2 Joumate the establishment of the petty cash fund on March 1 and the replenishment of Andon March 31. Hecord de credito e lation on the line of the journal entry) Begin by humaling the stabilishment of the polly cash fund on March 1 Date Accounts and Explanation Daba Credit Mar. 1 Now journalize the replenishment of the fund on March 31, (Prepare a single compound joumal ontry) Accounts and Explanation Debit Credit Mar. 31 Date Requirement 3. Prepare a T-account for Patty Cash, and post to the account. What is the balance of the Petty Cash account at all times? Post the applicable entry to the Petty Cash T-account below. Use a "Bal" reference to show the ending balance of the account Potty Cash What is the balance of the Petly Cash account at all times? The Petty Cash balance at all times is $