Analysis Saved Help Save & Exit Submit Check my work Exercise 8-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $330 petty cash fund on January 1. On January 8, the fund shows $227 in cash along with receipts for the following expenditures: postage, $43, transportation-in. $13, delivery expenses. $15; and miscellaneous expenses, $32. Palmone uses the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $380 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3. View transaction list Journal entry worksheet