The account to debit when the petty cash is short is
A) Petty Cash.
B) Cash.
C) Bank Charges.
D) Cash Over and Short.

Question

Quizplus · Accepted Answer

When petty cash is short, it means that there is not enough cash in the petty cash fund to cover the expenses paid out. The account to debit in this case is Cash Over and Short, which is a temporary account used to adjust any reimbursement discrepancies between the actual cash amount and the recorded amount in the Petty Cash account.

The Account to Debit When the Petty Cash Is Short