A $100 petty cash fund has cash of $17 and receipts of $80. The journal entry to replenish the account would include a
A) debit to Cash for $80.
B) credit to Petty Cash for $83.
C) debit to Cash Over and Short for $3.
D) credit to Cash for $80.
Correct Answer:
Verified
Q81: When opening a bank checking account a
Q83: A credit balance in Cash Over and
Q87: A petty cash fund should not be
Q91: The size of the petty cash fund
Q92: A petty cash fund is generally established
Q95: All of the following are parties to
Q96: A $100 petty cash fund has cash
Q102: In preparing its bank reconciliation for the
Q106: On a bank reconciliation deposits in transit
Q112: A bank reconciliation should be prepared
A) whenever
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