A $100 petty cash fund has cash of $15 and receipts of $80. The journal entry to replenish the account would include a credit to

Name: A $100 petty cash fund has cash of $15 and receipts of $80. The journal entry to replenish the account would include a credit to
Brand: Quizplus
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Question

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The petty cash fund needs to be replenished to its original amount of $100. Since there is $15 in cash and $80 in receipts, $85 is needed to replenish the fund. Therefore, the journal entry would include a credit to Cash for $85.

A $100 Petty Cash Fund Has Cash of $15 and Receipts