GL0601 - Based on Problem 6-2A LO P2 Adams Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May. May 1 Prepared a company check for $400 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. a. Paid $139 for janitorial services. b. Paid $184 for miscellaneous expenses. c. Paid postage expenses of 570. d. Paid $35 to Facebook for advertising expense. e. Counted $66 remaining in the petty cash box. May 16 Prepared a company check for $200 to increase the fund to 5600 May 31 The petty cashier reports that $240 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. f. Paid postage expenses of $205. 8. Reimbursed the office manager for business wileage, $103. h. Paid $34 to deliver merchandise 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 $160, leaving a total of $440. Requirement General Journal General Ledger Trial Balance Impact on Income Indicate the impact each transaction had on net income. Decreases to net income should be indicated with a minus to: May 31 Dates: May 01 Amount of increase decrease Impact transaction has on income Transaction Net income was unchanged May 1) Prepared a company check for $400 to establish the petty cash fund May 15) Prepared a company check to replenish the fund for the following expenditures made since May 1: $139 for janitorial services, 5104 for miscellaneous expenses, postage expenses of 570 $35 to Facebook for advertising expense. Counted 566 remaining in the petty cash box Net income decreased by Net income was unchanged May 16 Prepared a company check for $200 to increase the fund to 1600 i s that 5240 cash