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Journal entry worksheet Wrote a $360 check to establish a petty cash fund. Note: Enter debits before credits. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount. Note: Round your answers to 2 decimal places. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. Note: Round your answers to 2 decimal places. Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. February 2 Wrote a $360 check to establish a petty cash fund. February 5 purchased paper for the copier for $15.55 that is innediately used. February 9 Paid $36.50 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. February 12 Paid $8.75 postage to deliver a contract to a client. February 14 Reimbursed Adina Sharon, the manager, $71 for mileage on her car. February 20 Purchased office paper for $68.77 that is inmediately used. February 23 Paid a courier $20 to deliver merchandise sold to a customer, terns FOB destination. February 25 Paid $11.60 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. February 27 Paid $53 for postage expenses. February 28 The fund had $26.25 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reinburse the fund for expenditures. February 28 The petty cash fund anount is increased by $70 to a total of $430. Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount

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