A $100 petty cash fund has cash of $20 and valid receipts for $40.The entry to replenish the fund would include a:

Name: A $100 petty cash fund has cash of $20 and valid receipts for $40.The entry to replenish the fund would include a:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The entry to replenish the petty cash fund involves crediting Cash for the total amount needed to bring the fund back to its original balance. Since there is $20 in cash and $40 in receipts, $80 is needed to replenish the fund to $100.

A $100 Petty Cash Fund Has Cash of $20 and Valid