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Prepare a petty cash payments report for February with these categories: delivery expense, mileage expense, expense, merchandise inventory (for transportation-in), and office supplies expense. Note: Round your answers to 2 decimal places. 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. Complete this question by entering your answers in the tabs belowe. Prepare the joumal entries for required 2 to both (a) reimburse and (b) increase vie fund amcunt. Note: flound your answers to 2 decimal places. Journal entry worksheet Record the increase of the petty cash fund. Woter Enter debets beforer ondits. The following information is avallable to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31 a. On July 31, the company's Cash account has a $24,930 debit balance, but its July bank statement shows a $26,715 cash balance b. Check Number 3031 for $1,280, Check Number 3065 for $416, and Check Number 3069 for $2,048 are outstanding checks as of July 31 . c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $8,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $12 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daily cash receipts of $9,132 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. a. On July 31 , the company's Cash account has a $24,930 debit balance, but its July bank statement shows a $26,715 cash balance. b. Check Number 3031 for $1,280, Check Number 3065 for $416, and Check Number 3069 for $2,048 are outstanding checks as of July 31 c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $8,000 cash on a note for Branch. Branch had not recorded this event before recelving the statement e. The bank statement shows an $805 NSF check. The check had been recelved from a customer. Evan Shaw. Branch has not yet recorded this check as NSF f. The July statement shows a $12 bank service charge it has not yet been recorded in miscellaneous expenses because no previous notification had been recelved g. Branch's July 31 dally cash receipts of $9.132 were placed in the bank's ilght depository on that date but do not appear on the July 31 bank statement 2. Prepare the journal entries necessary to make the company's book balande of cash equal to the reconciled cash balance as of July 31 Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the adjusting entry required, if ary, related to the Nsf check. February 2 Wrote a $340 check to establish a petty cash fund. February 5 Purchased paper for the copien for $14.75 that is immediately used. February 9 Paid $38.50 shipping charges (transpontation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. February 12 Paid $8.85 postage to deliver a contract to a client. February 14 Reimbursed Adina Sharon, the manager, $75 for mileage on her car. February 20 Purchased office paper for $66.77 that is inmediately used. February 23 Paid a courier $20 to deliver merchandise sold to a customer, terms FOB destination. February 25 Paid $11,90 shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point. These costs are added to merchandise inventory. February 27 Paid $59 for postage expenses. February 28 The fund had $21.47 remaining in the petty cashbox. Sorted the petty cash receipts by accounts affected and exchanged then for a check to reimburse the fund for expenditures. February 28 The petty cash fund amount is increased by $100 to a total of $440. 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. Complete this question by entering your answers in the tabs below. Prepare the journal entry to establish the petty cash fund. Journal entry worksheet Wrote a $340 check to establish a pethy cash fund. a. On July 31 , the company's Cash account has a $24,930 debit balance, but its July bank statement shows a $26,715 cash balance. b. Check Number 3031 for $1,280, Check Number 3065 for $416, and Check Number 3069 for $2,048 are outstanding checks as of July 31 . c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $8,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $12 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been recelved. g. Branch's July 31 daily cash receipts of $9,132 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the adjusting entry required, if any, related to bank service charges. 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. Complete this question by entering your answers in the tabs below. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount: Note: Round your answers to 2 decimal places. Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credrts: a. On July 31 , the company's Cash account has a $24,930 debit balance, but its July bank statement shows a $26.715 cash balance. b. Check Number 3031 for $1,280. Check Number 3065 for $416, and Check Number 3069 for $2,048 are outstanding checks as of July 31 . c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $8.000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been. received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $12 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daily cash receipts of $9,132 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the adjusting entry required, if any, retated to the July 31 cash balance. a. On July 31 . the company's Cash account has a $24.930 debit balance, but its July bank statement shows a $26,715 cash balance. b. Check Number 3031 for $1,280. Check Number 3065 for $416, and Check Number 3069 for $2.048 are outstanding checks as of July 31 . c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260 d. The July bank statement shows the bank collected $8.000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer. Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $12 bank service charge it has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daily cash receipts of $9,132 were placed in the bank's hight depository on that date but do not appear on the July 31 bank statement. 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31 . Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the adjustiong entry required, if any, for the colsection of the note by bink for Branch. The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31 . a. On July 31, the company's Cash account has a $24,930 debit balance, but its July bank statement shows a $26,715 cash balance. b. Check Number 3031 for $1,280, Check Number 3065 for $416, and Check Number 3069 for $2,048 are outstanding checks as of July 31 c. Check Number 3056 for July rent expense was correctly written and drawn for $1.270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $8,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $12 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daily cash receipts of $9.132 were placed in the bank's night depository on that date but do not appear on the fuly 31 bank statement Required: 1. Prepare the bank reconciliation for this company as of July 31 . d. July bank statement shows a $26.715 cash balance. b. Check Number 3031 for $1,280, Check Number 3065 for $416, and Check Number 3069 for $2.048 are outstanding checks as of July 31 . c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $8.000 cash on a note for Branch. Branch had not recorded this event before recelving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $12 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daily cash receipts of $9132 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet a. On July 31 , the company's Cash account has a $24,930 debit balance, but its July bank statement shows a $26,715 cash balance. b. Check Number 3031 for $1,280, Check Number 3065 for $416, and Check Number 3069 for $2,048 are outstanding checks as of July 31 c. Check Number 3056 for July rent expense was correctly written and drawn for $1,270 but was erroneously entered in the accounting records as $1,260. d. The July bank statement shows the bank collected $8.000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer. Evan Shaw. Branch has not yet recorded this check as NSF. f. The July statement shows a $12 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. g. Branch's July 31 daily cash receipts of $9,132 were placed in the banks night depository on that date but do not appear on the July 31 bank statement 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July 31. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the adjusting enty required, if amp reiated to the july 31 deposit

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