Please Explain

1. ABC Co set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in June: June 1 Deposited $350 to establish the petty cash fund. 15 Paid $339.26 for miscellaneous expenditures made since June 1. Counted $16.84 remaining in the petty cash box. 16 Replenished the fund and deposited for $200 more to increase the fund to $550. 31 The cashier reports that $390.27 cash remains in the fund. Paid $154.73 for miscellaneous expenditures made since May 15. 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving a total of $500. Required: Prepare journal entries to establish the fund on June 1 to replenish it on June 15 and on June 31, and to reflect any increase or decrease in the fund balance on June 16 and June 31