Dallas Repairs completed the following petty cash transactions during July 2023:
July 5 Prepared a $250 cheque, cashed it, and turned the proceeds and the petty cash box over to Elliott Grace, the petty cash custodian.
6 Paid $18.00 courier fees.
12 Purchased file folders, $12.50.
14 Reimbursed Dara Bains, the manager of the business, $34.26 for office supplies purchased.
18 Purchased paper for printer, $42.15.
28 Purchased stamps, $23.00
30 Reimbursed Dara Bains $64.80 for business car expenses.
31 Elliott Grace sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures. However, there was $51.04
in cash in the fund.

Required
1. Prepare a general journal entry to record establishing the petty cash fund.
2. Prepare a summary of petty cash payments similar to Exhibit 7.3 that has these categories: delivery expense, auto expense, postage expense, merchandise inventory, and office supplies.

3.

Prepare the general journal entry to record the reimbursement of the fund.

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Table Summary: Summary DEMANO Petty Cash Payments Report November 2023 Receipts: Office maintenance Nov. 2 Washing windows........ 17 Washing windows.......... 27 Computer repairs... Transportation-in Nov. 5 Delivery of merchandise purchased........... 20 Delivery of merchandise purchased.... Delivery expense Nov. 28 Customer's package delivered..... Office supplies Nov. 15 Purchased office supplies... Total receipts.... Fund total....... Less: Cash remaining... Equals: Cash required to replenish petty cash.... Cash over/(short) $10.00 10.00 26.50 $46.50 $ 6.75 8.30 15.05 5.00 4.75 $75.00 2.20 $71.30 $72.80 ($ 1.50)