The entry to replenish a $300 petty cash fund, which has cash of $160 and valid receipts for $130 would include:

Question

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To replenish the petty cash fund to its original amount of $300, the company needs to add $140, since the fund currently has $160 in cash and $130 in valid receipts, totaling $290. The entry to record this replenishment would include a credit to Cash for $140, reflecting the cash leaving the main cash account to refill the petty cash fund.

The Entry to Replenish a $300 Petty Cash Fund, Which