A petty cash fund was established with a $400 balance. It currently has cash of $10 and petty cash slips as below.
The journal entry to replenish the account would be which of the following?
A) Debit Cash $10, credit various expenses $10
B) Debit various expenses $390, credit Petty cash fund $390
C) Credit Petty cash fund $390, debit Cash $390
D) Debit various expenses $390, credit Cash $390
Correct Answer:
Verified
Q105: Around the end of the year,an accountant
Q114: A company makes a legitimate,properly authorised payment
Q116: An accountant is under pressure to maximise
Q123: In order to maintain strong internal control
Q124: The voucher system improves internal control by
Q141: A petty cash fund was established with
Q143: A fund for petty cash of $200
Q145: A petty cash fund was established with
Q148: Which of the following would be included
Q151: A company urgently needs to repair its
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents