ecomart establishes a $1,050 petty cash fund on may 2. on may 30, the fund shows $326 in cash along with receipts for the following expenditures: transportation-in, $120; postage expenses, $369; and miscellaneous expenses, $240. the petty cashier could not account for a $5 overage in the fund. the company uses the perpetual system in accounting for merchandise inventory. Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund, and (3) June 1 entry to increase the fund to $1,200. View transaction list Journal entry worksheet 2 Record the May 2 entry to establish the fund. Note: Enter debits before credits. Date General Journal Debit Credit May 02
