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A petty cash fund was established with a $400 balance. It currently has cash of $9 and petty cash ...

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A petty cash fund was established with a $400 balance. It currently has cash of $9 and petty cash ...

A petty cash fund was established with a $400 balance. It currently has cash of $9 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 to Cash Short & Over for $1
B) Credit Cash Short & Over for $1
C) Debit Petty Cash for $1
D) Credit Petty Cash for $1

Textbook

Accounting, Volume 1, Canadian Edition

Edition: 9^th

Authors: Horngren, Harrison, Johnston, Meissner, Norwood

Read 102 times

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