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Exercise 6-10 (Algo) Petty cash fund accounting LO P2 Paimons Compary establithes a 5140 petty cash fund on January 1. On January 8 , the fund shows 553 in cash along wer receipts for the following expenatures pottige, $35, transpontationth, 513 ; dellivery expenses, $15; and misceltaneous expenses, 524 . Paimona uses the perpetual system in accounting for merchandise inventory. 1. Prepare the entry to establish the fund on January 1 2. Prepare the entry to reimburse the fund on January 8 under two separate sthuations: a. To reimburse the fund. b. To reimburse the fund and increase it to $190. Hint Make two entries Journal entry worksheet 34 Record the foumal entry to ercabish the petty cosh fund. Nuta Eritar arsits teptyre ordifa. Exercise 6-10 (Algo) Petty cash fund accounting LO P2 Painona Company establishes a $140 petty cash fund on January 1 . On January 8 , the fund shows $53 in cash along with receipts for the following expendtures postage, $35, transportation-in, $13 delivery expenses, $15; and miscellaneous expenses, $24. Palmona eses the perpetual system it accounting for merchandise inventory. 1. Prepare the ectity to estabis the fund on January 1 . 2. Piepese the entry to reimburse the fund on January 8 under two separate situations: a. To reinburse the fund. b. To reimburse the fund and increase it to $190. Hint Make fwo entrles. Journal entry worksheet (1) Record the reimbursoment of the petty cash fund. Exercise 6-10 (Algo) Petty cash fund accounting LO P2 Palmona Company establishes a $140 petty cash fund on January 1. On January 8 , the fund shows $53 in cash along with receipts for the following expenditures postage, $35; transportation-in, $13; delivery expenses, $15; and miscellaneous expenses, $24. Palmona uses the perpetual system in accounting for merchandise inventory. 1. Prepare the entry to establish the fund on January 1 . 2. Prepare the entry to reimburse the fund on January 8 under two separate situations: a. To reimburse the fund. b. To reimburse the fund and increase it to $190. Hint Make two entries. Journal entry worksheet (1) Record the reimbursement of the petty cosh fund. Decta: Fintar deties bafore cried ta. Exercise 6-10 (Algo) Petty cash fund accounting LO P2 Poimona Company estebliahes a $140 petty cash fund on January 2 On January 8 , the fund shows $53 in cash along with receipts for the following expendiures postage, $35; tansportation-h. \$13; detvery expenses, $15; and miscellaneous expenses, 524 . Palmona uses the perpetual system in accounting for merchandise inventary 1. Prepare the entry to estabish the fund on January 1 . 2. Prepare the entry to reimburse the fund on January 8 under two searate situations: a. To reinbune the fund. b. To reimburse the fund and increase is to 5190 . Hint Make two entries. Journal entry worksheet (1) (2) 3

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