internal control principle is vilatd. Use the table Below IC Good or Weak? Related Internal Control Principle Procedure 1. 2. 3. 4. 5. E8-7 Setterstrom Company established a petty cash fund on May 1, cashing a check for $100. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $1.75. Receipts: delivery expense $31.25, postage expense $39.00, and miscellaneous expense $25.00. July 1: Cash in fund $3.25. Receipts: delivery expense $21.00, entertainment expense $51.00, and miscellaneous expense $24.75. On July 10, Setterstrom increased the fund from $100 to $130. Instructions Prepare journal entries for Setterstrom Company for May 1, June 1, July1 mpany uses an imprest petty cash system. The fund was established on receipts were a E8-8 Horvath Co March 1 with a balance of $100. During March, the following petty cas found in the petty cash box