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4 Palmona Co. establishes a $190 petty cash fund on January 1. On January 8, the fund shows $71 in cash along with receipts for the following expenditures: postage, $49; transportation-in, $15; delivery expenses, $17; and miscellaneous expenses, $38. Palmona uses the perpetual system in accounting for merchandise inventory. 8.75 points 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 $240 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3. 8 02:05:52 x Answer is not complete. No Date General Journal Credit Debit 190 1 Jan 01 Petty cash Cash 190 2 Jan 08 x Postage expense Transportation-in Delivery expense Miscellaneous expenses Cash 49 15 17 38 119 3 Jan 08 Petty cash 50 X x x Cash 50 View transaction list Journal entry worksheet 1 2 3 4 Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Date General Journal Debit Credit Jan 08 49 15 Postage expense Transportation-in Delivery expense Miscellaneous expenses Cash 17 38 119 Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 > Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Date General Journal Debit Credit Jan 08 Petty cash 50 Cash 50 Record entry Clear entry View general journal Palmona Co. establishes a $190 petty cash fund on January 1. On January 8, the fund shows $71 in cash along with receipts for the following expenditures: postage, $49; transportation-in, $15; delivery expenses, $17; and miscellaneous expenses, $38. Palmona 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 $240 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3. View transaction list Journal entry worksheet Record the increase of the petty cash fund. Note: Enter debits before credits. Date General Journal Debit Credit Jan 08 Record entry Clear entry View general journal