Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory.   Feb.   2   Wrote a $360 check to establish a petty cash fund.     5   Purchased paper for the copier for $16.15 that is immediately used.     9   Paid $44.50 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory.     12   Paid $7.35 postage to deliver a contract to a client.     14   Reimbursed Adina Sharon, the manager, $70 for mileage on her car.     20   Purchased office paper for $68.77 that is immediately used.     23   Paid a courier $20 to deliver merchandise sold to a customer, terms FOB destination.     25   Paid $11.60 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory.     27   Paid $57 for postage expenses.     28   The fund had $22.23 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures.     28   The petty cash fund amount is increased by $130 to a total of $490.   Required: 1. Prepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, postage expense, merchandise inventory (for transportation-in), and office supplies expense. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount.   Wrote a $360 check to establish a petty cash fund.

Dance Studio created a $200 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Requirement 2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $8. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table. Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit Requirement 3. Assume that Louise's Dance Studio decides to decrease the petty cash fund to $100. Make the general journal entry to record this decrease. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Accounts…

Christine's Dance Studio created a $400 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows: View the petty cash tickets. Read the requirements. Requirement 1. Make the general journal entry to create the petty cash fund. Include an explanation. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Date Debit Credit Requirements 1. Make the general journal entry to create the petty cash fund. Include an explanation. 2. 3. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $249. Include an explanation. Assume that Christine's Dance Studio decides to decrease the petty cash fund to $260. Make the general journal entry to record this decrease. Print Done Petty Cash Tickets Petty Cash Ticket No. Item Account Debited Amount Ticket No. 1 Ticket No. 2 Delivery of programs to customers Delivery Expense Mail…

Prepare a journal entry to record these cash sales.