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Kiona Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year). May 1 Prepared a company check for $350 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. May 15 a. Paid $109.20 for janitorial expenses. May 15 b. Paid $89.15 for miscellaneous expenses. May 15 c. Paid postage expenses of $60.90. May 15 d. Paid $80.01 to Facebook for advertising expense. May 15e. Counted $26.84 remaining in the petty cashbox. May 16 Prepared a company check for $200 to increase the fund to $550. May 31 The petty cashier reports that $365.27 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31f. Paid postage expenses of $59.10. May 31g. Reimbursed the office manager for mileage expense, $47.05. May 31h. Paid $48.58 in delivery expense for products to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving a total of $500. Required: Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31 , and to reflect any increase or decrease in the fund balance on May 16 and May 31. Note: Round your answers to 2 decimal places. Journal entry worksheet 5 Prepared a company check for $350 to establish the petty cash fund. Note: Enter debits before credits. Journal entry worksheet Prepared a company check to replenish the fund for the expenditures made since May 1. Note: Enter debits before credits. Journal entry worksheet Prepared a company check for $200 to increase the fund to $550. Note: Enter debits before credits. Journal entry worksheet Prepared a company check to replenish the fund for the expenditures made since May 15. Note: Enter debits before credits. Journal entry worksheet The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving a total of $500. Note: Enter debits before credits

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