Use the following information regarding Sanders Company to answer the question below.
1) Established a petty cash fund in the amount of $200.
2) Reimbursed the petty cash fund given the following petty cash fund disbursements:
A) Payment for postage, $20.
B) Payment for supplies, $70.
3) Increased the petty cash fund by $100.
4) Cash over at the end of the first period was $5.
The entry to record the cash over in the petty cash fund would include a
A)credit to the Cash account for $5.
B)credit to the Petty Cash account for $5.
C)debit to Cash Short or Over for $5.
D)credit to Cash Short or Over for $5.
Correct Answer:
Verified
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