UESTIONS: 1. ABC Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in June: June 1 Deposited $350 to establish the petty cash fund. 15 Paid $339.26 for miscellaneous expenditures made since June 1 . Counted $16.84 remaining in the petty cash box. 16 Replenished the fund and deposited for $200 more to increase the fund to $550. 31 The cashier reports that $390.27 cash remains in the fund. Paid $154.73 for miscellaneous expenditures made since May 15. 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving a total of $500. Required: Prepare journal entries to establish the fund on June 1, to replenish it on June 15 and on June 31 , and to reflect any increase or decrease in the fund balance on June 16 and June 31. 2. In January 2018 , the management of ABC Company concludes that it has sufficient cash to purchase some short-term investments in bonds and shares. During the year, the following transactions occurred. Feb. 1 Purchased 500 shares of DET shares for 45,000TL. Mar. 1 Purchased 600 shares of STL shares for 30,000TL. Mar.25 DET declared 0.90TL dividends per share payable on September 1. June 1 Purchased 40 1,000TL 9\% CTN bonds for 60,000TL. Interest is payable semiannually on June 1 and November 1. July 1 Sold 200 shares of DET and collected totally 19,880TL. Aug. 1 Received a 1.5TL per share cash dividend on the STL shares. Sept. 1 Received cash dividend on DET shares. Oct. 1 Sold 20CTN bonds and collected totally 25,750TL. Nov. 1 Received the semiannual interest on CTN bonds. Required: Journalize and post the transactions. 3. Journalize the below transactions. a) Opened a bank account and deposited $10,000. b) Purchased goods for $7,500 from XYZ Co. by issuing a daily check for $2,500. c) Sold goods for $12,000 to ABC Co. by receiving a promissory note for $8,000. d) Received a maturity check from ABCCo. for the rest of receivables. e) Endorsed the check to XYZ Co