Shawnee Co. set up a petty cash fund for payments of small amounts Problem 8-2A (P8-2A) Shawnee Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company s fiscal year): May 1 prepared a company check for $250.00 to establish the petty cash fund. 15 Prepared a company check to replenish the fund for the following expenditures made since May 14 a. Paid $78.00 for janitorial services. b. Paid $63.68 for miscellaneous expenses. c. Paid postage expenses of $43.50. d. Paid $75.15 to the county Gazette (the local newspaper) for an advertisement. e. Counted $11.15 remaining for petty cash. 16 Prepared a company check for $200.00 to increase the fund to $450.00. 31 The petty cashier reports that $293.39 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. f. Paid postage expense of $48.36. g. Reimbursed the office manager for business mileage, $38.50 h. Paid $39.75 to deliver merchandise to a customer, term FOB destination 31 the company decided that the May 16 increase in the funds was too large. It increased the find by $50.00, leaving a total of $400.00 1) Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31, and to reflect any increase to decrease in the fund balance on May 16 and May 31