A fund for petty cash of $200 has $17 remaining in cash, $3 in miscellaneous cash receipts and an additional $180 in specific cash receipts. The debit to Cash short and over would be:

Question

Quizplus · Accepted Answer

The total cash and receipts should equal the fund amount. $17 (cash) + $3 (miscellaneous receipts) + $180 (specific receipts) = $200, which matches the fund amount, so there is no cash short or over.

A Fund for Petty Cash of $200 Has $17 Remaining