Business, 20.11.2019 22:31 naomicervero

Nakashima gallery had the following petty cash transactions in february of the current year. feb. 2wrote a $400 check, cashed it, and gave the proceeds and the petty cashbox to chloe addison, the petty cashier. 5purchased bond paper for the copier for $14.15 that is immediately used. 9paid $32.50 cod shipping charges on merchandise purchased for resale, terms fob shipping point. nakashima uses the perpetual system to account for merchandise inventory. 12paid $7.95 postage to express mail a contract to a client. 14reimbursed adina sharon, the manager, $68 for business mileage on her car. 20purchased stationery for $67.77 that is immediately used. 23paid a courier $20 to deliver merchandise sold to a customer, terms fob destination. 25paid $13.10 cod shipping charges on merchandise purchased for resale, terms fob shipping point. 27paid $54 for postage expenses. 28the fund had $120.42 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. 28the petty cash fund amount is increased by $100 to a total of $500. 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. sort the payments into the appropriate categories and total the expenditures in each category. (round your answers to 2 decimal places.) 3. prepare the journal entries for part 2 to both (a) reimburse and (b) increase the fund amount. (roundyour answers to 2 decimal places.)

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Nakashima gallery had the following petty cash transactions in february of the current year. feb. 2w...