Willard Company established a $300 petty cash fund on September 9, 2020. On September 30, the fund had $119.50 in cash along with receipts for these expenditures: transportation-in, $24.40, office supplies, $85.40, and repairs expense, $6570. Willard uses the perpetual method to account for merchandise inventory. The petty cashier could not account for the $5.00 shortage in the fund a. Prepare the September 9 entry to establish the fund. View transaction Hist Journal entry worksheet Record the entry to establish the fund. Hotel Enter debits before credit Date General Journal Credit Debit 300 Sep 09,2020 Potty cash Cash 3001 Record entry Clear entry View general journal b. Prepare a summary of the petty cash payments and record the entry on September 30 to reimburse the fund and reduce it to $150 (Round your answers to 2 decimal places.) WILLARD COMPANY Petty Cash Payments Report September 3 - 30,2030 Recelpts Merchandise inventory 5 Office supplies expense Repairs expense 2140 8540 65.70 b. Prepare a summary of the petty cash payments and record the entry on September 30 to reimburse the fund and reduce it to $150 (Round your answers to 2 decimal places) WILLARD COMPANY Petty Cash Payments Report September 9 - 30, 2020 Receipts Merchandise inventory Office Supplies expense Repairs expense 5 2440 8540 65.70 5 175 50 $ Total recepti Fund total Loss Cash remaining Equals Cash required to replenish petty cash Cash short 300.00 119.50 $ 5:00 Piev 1:14 Next > Saved Help 1 > Record the entry to reimburse the fund. Note: Enter debits before credits Crodle Date General Journal Sep 30, 2020 Merchandise inventory Office supplies expense Repairs expense Cash over and short Cash Debit 24.40 85.40 65.70 L Record entry Clementy View general journal Prev 1 of 14 Next > 0