Taylor Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May May 1 Prepared a company check for $450 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures nade since May 1. May 15 a. Paid $158 for janitorial services. May 15 b. Paid $119 for miscellaneous expenses. May 15 c. Paid postage expenses of $79. May 15 d. Paid $39 to Facebook for advertising expense. May 15 e. Counted $63 remaining in the petty cash box. May 16 Prepared a company check for $150 to increase the fund to $600. May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15 May 31 f. Paid postage expenses of $210. May 31 8. Reimbursed the office manager for business mileage, $105 May 31 h. Paid $35 to deliver merchandise to a customer, terns FOB destination May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $480 Requirement General Journal General Ledger Trial Balance Impact on Income General Journal tab - Prepare the necessary journal entries Prev 1 of 1 Next May 1) Prepared a company check for $450 to establish the petty cash fund. May 15) Prepared a company check to replenish the fund for the following expenditures made since May 1: $158 for janitorial services, $119 for miscellaneous expenses postage expenses of $79, $39 to Facebook for advertising expense. Counted $63 remaining in the petty cash box. May 16 Prepared a company check for $150 to increase the fund to $600. May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. postage expenses of $210, business mileage, $105, $35 to deliver merchandise to a customer, terms FOB destination May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $480. In total, net income increased (decreased) by: Journal entry worksheet Prepared a company check for $450 to establish the petty cash fund. Note: Enter debits before credits Date May 01 Account Title Debit Credit