1. COMPPRO.03-01 PARTI Comprehensive Problem 3 Part 1: Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 20YS, were as follows: 1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 3: Issued a check to establish a petty cash fund of $4,500 Date Description Debit Credit Jan. 3 Feb. 26: Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1,680; miscellaneous selling expense, $570; miscellaneous administrative expense, $880. Date Description Debit Credit Feb. 26 Apr. 14: Purchased $31,300 of merchandise on account, terms 1/10, n/30. The perpetual inventory system is used to account for inventory Date Description Debit Credit Apr. 14 May 13: Paid the invoice of April 14 after the discount period had passed. Date Description Debit Credit May 13 May 17: Received cash from daily cash sales for $21,200. The amount indicated by the cash register was $21,240 Date Debit Credit Description May 17