A petty cash fund, established with a $250 balance, had petty cash tickets totalling $219 and cash in the amount of $34. The entry to replenish the fund would include a:

Name: A petty cash fund, established with a $250 balance, had petty cash tickets totalling $219 and cash in the amount of $34. The entry to replenish the fund would include a:
Brand: Quizplus
Rating: 4.8 (59 reviews)

Question

Quizplus · Accepted Answer

The cash shortfall is $3 ($250 - $219 - $34), so a credit to Cash Short and Over for $3 is needed to account for the discrepancy.

A Petty Cash Fund, Established with a $250 Balance, Had