CASH CONTROL - PETTY CASH PROBLEM EXERCISE Zenith Company provided the following chronological transactions in relation to petty cash: 1. The entity established a petty cash fund of P 10,000. 2. Petty...

Required: Prepare the journal entries to record the transactions under the imprest fund system.

Extracted text: CASH CONTROL - PETTY CASH PROBLEM EXERCISE Zenith Company provided the following chronological transactions in relation to petty cash: 1. The entity established a petty cash fund of P 10,000. 2. Petty cash disbursements were: P 1,500 Postage Supplies 2,000 3. Petty cash disbursements were: P 1,000 Transportation Miscellaneous expense 500 4. Petty cash disbursements were: P 1,000 Supplies Transportation 3,000 5. Issued check to replenish the fund. 6. Petty cash disbursements were: Postage Supplies P 2,000 3,000 4,000 Transportation 7. Issued check for an amount to replenish the fund and bring the balance of the petty cash to P 20,000.