The petty cash payments record indicates classified expenditures as follows: Automobile Expense,$20; Supplies Expense,$12; Postage Expense,$6; and Miscellaneous Expense,$5.The transaction would include

Question

Quizplus · Accepted Answer

When recording petty cash payments, expenses are debited to reflect the increase in expenses. Hence, debiting Automobile Expense is correct as it reflects the use of petty cash for automobile-related expenses.

The Petty Cash Payments Record Indicates Classified Expenditures as Follows