Willard company established a $500 petty cash fund on september 9, 2020. On Septemeber 30, the fund had $199.40 in cash along with receipts for these expenditures: transportation-in, $40.50; office supplies, $141.70; and repairs expense, $111.40. Willard uses the perpetual method to account for merchandise inventory. The petty cashier could not account for the $7.00 shortage in the fund. a) Prepare the september 9 entry to establish the funds. b) Prepare summary of the petty cash payments and record the journal entry on September 30 to reimburse the fund and reduce it to $350. (Round your answers to 2 decimal places.)

b. Prepare a summary of the petty cash payments and record the entry on September 30 to reimburse (Round your answers to 2 decimal places.) WILLARD COMPANY Petty Cash Payments Report September 9 - 30, 2020 Receipts ces Total receipts $ 0.00 Fund total Equals: Cash required to replenish petty cash View transaction list Journal entry worksheet Prey 1 of 4