WOMER C ourth M S . Hview the Spir o ogle Upload Documents Connect H 6-7 (taken in Connect) Saved Help Save & Exit Submit Palmona Co, establishes a $280 petty cash fund on January 1. On January 8, the fund shows $167 in cash along with receipts for the following expenditures: postage, $49; transportation-in, $12; delivery expenses, $14; and miscellaneous expenses. $38. Palmon uses the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $330 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3. 45:30 View transaction list Journal entry worksheet Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits Debit Credit General Journal Date Jan 01 2 of 12 !!!