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A petty cash fund was established with a $400 balance. It currently has cash of $10 and petty cash ...

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A petty cash fund was established with a $400 balance. It currently has cash of $10 and petty cash ...

A petty cash fund was established with a $400 balance. It currently has cash of $10 and petty cash tickets as shown below.

Travel expense   $120
Office supplies   $200
Equipment rental expense   $70

The journal entry to replenish the account would be which of the following:
A) Debit various expenses $390, credit Cash $390
B) Debit various expenses $390, credit Petty Cash $390
C) Debit Cash $10, credit various expenses $10
D) Credit Petty Cash $390, debit Cash $390

Textbook

Accounting, Volume 1, Canadian Edition

Edition: 9^th

Authors: Horngren, Harrison, Johnston, Meissner, Norwood

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