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Data table d Petty Cash Ticket Number Item Amount Ticket No. 101 Office supplies $ 30 ish Ticket No. 102 Cab fare for executive 40 Ticket No. 103 Delivery of package across town 25 Ticket No. 104 Business dinner 75 at Ticket No. 105 Merchandise inventory 60 Print Done urnal enava Requirements 1. Explain the characteristics and the internal control features of an imprest fund. 2. On June 30, how much cash should the petty cash fund hold before it is replenished? 3. Journalize all required entries to create the fund and replenish it. Include explanations. 4. Make the July 1 entry to increase the fund balance to $450. Include an explanation, and briefly describe what the custodian does. e to 6 fedits Print Done On June 1, Farm Gown Dressings creates petty cash fund with a great balance 5300. During Ane Margar, the fund the wingely cash then to the chos) On June 30, po to replenishment, the fund contain the such of S100. The acceded by pety hart we Office Supplies Travel Expense. Dovery. Earnest per und Merchandise Read the Requirement 1. Explain the characterica and the internal control fostures of an ingreut tona An prattundas Date at which them or wet payments from the news. The result in a more and a thote the amount of money for which the fundon is response Requirement 2. One 30, how much each should the peyshurdhold for the Beforeis replenished the physhohof Requirements and to refund and reported to Baglyg the creation of the land Requirement 3. Journalize all required entries to create the fund and replenish it. Include explanations. (Record debits first, then, credits. Begin by journalizing the creation of the fund. Date Accounts and Explanation Debit Credit June 1 Journalize the replenishment of the fund. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit June 30 Requirement 4. Make the July 1 entry to increase the fund balance to $450. Include an explanation, and briefly describe what the custodian does (R Make the entry July 1 to increase the fund balance to $450. Accounts and Explanation July 1 Date Debit Credit Briefly describe what the custodian does The custodian the check and places of currency and coin