the fund, it was increased by $50 Exercise 7-10 Petty cash fund L04, 5 excel Dallas...

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the fund, it was increased by $50 Exercise 7-10 Petty cash fund L04, 5 excel Dallas Repairs completed the following petty cash transactions during July 2023 July 5 Prepared a $250 cheque, cashed it, and turned the proceeds and the petty cash box over to Elliott Grace the pety 6 Paid $18.00 courier fees 12 Purchased file folders, $12.50. 14 Reimbursed Dara Bains, the manager of the business, $34.26 for office supplies purchased. 18 Purchased paper for printer, $42.15. 28 Purchased stamps, $23.00 30 Reimbursed Dara Bains $64.80 for business car expenses. 31 Elliott Grace sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures However, there was $51.04 in cash in the fund. Required 1. Prepare a general journal entry to record establishing the petty cash fund. l 2. Prepare a summary of petty cash payments similar to Exhibit 7.3 that has these categories: delivery expense, auto expense, postage expense, merchandise inventory, and office supplies. 3. Prepare the general journal entry to record the reimbursement of the fund. the fund, it was increased by $50 Exercise 7-10 Petty cash fund L04, 5 excel Dallas Repairs completed the following petty cash transactions during July 2023 July 5 Prepared a $250 cheque, cashed it, and turned the proceeds and the petty cash box over to Elliott Grace the pety 6 Paid $18.00 courier fees 12 Purchased file folders, $12.50. 14 Reimbursed Dara Bains, the manager of the business, $34.26 for office supplies purchased. 18 Purchased paper for printer, $42.15. 28 Purchased stamps, $23.00 30 Reimbursed Dara Bains $64.80 for business car expenses. 31 Elliott Grace sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures However, there was $51.04 in cash in the fund. Required 1. Prepare a general journal entry to record establishing the petty cash fund. l 2. Prepare a summary of petty cash payments similar to Exhibit 7.3 that has these categories: delivery expense, auto expense, postage expense, merchandise inventory, and office supplies. 3. Prepare the general journal entry to record the reimbursement of the fund.