showroom in Napanee, Ontario, and creates a petty cash fund with an imprest balance of $400. During September, Lisa Manfield, the fund custodian, signs the petty cash tickets shown below:

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On September 30, prior to replenishment, the fund contains these tickets plus $61.34. The accounts affected by petty cash payments are Office Supplies Expense, Entertainment Expense, and Delivery Expense.

Required

Explain the characteristics and the internal control features of an imprest fund.

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

Make the general journal entries to (a) create the fund and (b) replenish it. Include explanations.

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