GLO601 Based on Problem 6-2A LO P2 Collins 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 $50e 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 $176 for janitorial services b. Paid $132 for miscellaneous expenses c. Paid postage expenses of $88 d. Paid $43 to The County Gazette (the local newspaper) for an advertisement e. Counted $75 remaining in the petty cash box May 16 Prepared a company check for $20e to increase the fund to $700 May 31 The petty cashier reports that $28e 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 $241 g. Reimbursed the office manager for business mileage, $121 h. Paid $40 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 $540 General General Journal Impact on Trial Balance Requirement Ledger ncome Prepare the journal entries for each of the petty cash transactions. View transaction list Journal entry worksheet Prepared a company check for $500 to establish the petty cash fund Note: Enter debits before credits Date Account Title Debit Credit May 01 Record entry Clear entry View general journal