Paste Calcopy Format Painter 29 Wrap Text BLU-BOAMerge & Center General Clipboard $ - % Font Alignment B20 Number f B D E F G 3 1 Petty Cash 2 El Greco Art Gallery had the following petty cash transactions in April of the current April 3 Wrote a $350 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Addison, the petty cashier 7 Purchased bond paper for the copier for $15.75 that is immediately used. 4 5 6 7 11 13 15 Paid $40.50 COD Shipping Paid $7.15 postage to express mail a contract to a client. Reimbursed Adina Sharon, the manager, $73 for business mileage on her car 8 9 21 24 Purchased stationery for $68.77 that is immediately used. Paid a courier $21 to deliver merchandise sold to a customer, terms FOB destination 10 27 11 Paid $11.60 COD shipping charges on merchandise purchased for resale, terms FOB shipping point Paid $56 for postage expenses. 29 12 29 The fund had $23.87 remaining in the petty cash box. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. 13 14 30 The petty cash fund amount is increased by $90 to a total of $440. 13 16 Required: 17 1. Prepare the journal entry to establish the petty cash fund. 18 19 Date Accounts Debit Credit 20 21 22 23 BI Format Painter + - A Merge & Center $ Clipboard Font Alignment N B20 f A B C D E 2. Prepare a petty cash payments report for April with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. Sort the payments into the appropriate categories and total the expenditures in each category. 25 26 27 28 29 30 Petty Cash Expense Summary 31 Date Category Charge 32 Date Delivery Expense Charge 33 24-Apr Total Total 34 35 Mileage 36 38 Postage Expense 39 40 42 Mdse Inventory Transp in 43 44 46 Office Supplies Expense 47 48 49 Total Reimbursement 50 51 50 51 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) 52 increase the fund amount. 53 No Date General Journal 54 Debit Credit 55 1 56 57 58 59 60 61 62 63 2 64 65 66 67 68 69 70 71 72 73 74 75 76 77 Petty Cash Bank Rec