Response to the following problem:
The following transactions were made by Mortimer Corp. in November 2015.
Nov. 1 Established a petty cash fund of $1,000.
17 Reimbursed the fund for receipts as follows:
Office supplies $500
Maintenance 350
Meals (selling expenses) 100
Petty cash on hand prior to reimbursement was $10.
19 Increased the fund by $1,000.
28 Reimbursed the fund for the following:
Office supplies $1,500
Delivery charges 300
Petty cash on hand prior to reimbursement was $50.
Required:
1. Prepare journal entries to record these transactions.
2. Suggest improvements to the internal controls of Mortimer's petty cash fund.