Suppose that on september 1, the Fanzis company opens a new store in Laval and creates a petty cash fund with a balance of $400. During September Ali Baba, the fund custodian signs the petty cash tickets shown below:

DATE	TICKET #	ITEM	AMOUNT
Sept. 4	1	Courier for package received	$49.67
18	2	Refreshments for new store opening	101.00
21	3	Computer discs	88.07
22	4	Office supplies	7.50
28	5	Dinner for a customer	87.50

Required:

1.On September 30, how much cash should this petty cash fund hold before it is replenished

2.Assuming the cash on hand at September 30, is $70, what is the cash short or the cash over. show your calculation

3.Make the journal entries to (a) create the fund and (b) replenish it . include explanation

4.Due to the risk of robbery, make the entry on October 1^st to decrease the fund balance to $300. Include explanation