Question

I just need two parts (cash over and short and cash) for the required 3 section.

Problem 8-3A Establishing, reimbursing, and increasing petty cash LO P2 Nakashima Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $350 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Addison, the petty cashier. 5 Purchased bond paper for the copier for $15.95 that is immediately used. 9 Paid $36.50 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. Nakashima uses the perpetual system to account for merchandise inventory. 12 Paid $8.95 postage to express mail a contract to a client. 14 Reimbursed Adina Sharon, the manager, $ 70 for business mileage on her car. 20 Purchased stationery for $68.77 that is immediately used. 23 Paid a courier $18 to deliver merchandise sold to a customer, terms FOB destination. 25 Paid $11.20 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. 27 Paid $57 for postage expenses. 28 The fund had $22.02 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. 28 The petty cash fund amount is increased by $100 to a total of $450. 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. 3. Prepare the journal entries for required 2 to both (a) reimburse and (b) increase the fund amount.

Answer 1

1)	Date	General Journal				Debit	Credit
	2-Feb	Petty cash				350
		cash					350
		Petty cash payment Report (for February)
	Delivery expense
	23-Feb	Delivery of customer's merchandise					18
	Mileage expense
	14-Feb	Reimbursement of mileage					70
	Postage expense
	12-Feb	Express delivery of product				8.95
	27-Feb	purchased postage stamps				57	65.95
	Merchandise invnetory (transportation-in)
	9-Feb	COD charges on purchases				36.5
	25-Feb	COD charges on purchases				11.2	47.7
	Office supplies expense
	5-Feb	Purchased paper for copier				15.95
	20-Feb	Purchased stationery				68.77	84.72
	total						286.37
	Date	General Journal				Debit	Credit
	28-Feb	Delivery expense				18
		Mileage expense				70
		postage expense				65.95
		Merchandise inventory				47.7
		office supplies expense				84.72
		Cash over and short				41.61
		Cash.					327.98
	28-Feb	Petty cash				100
		csh					100