Peterson Company's petty cash fund was established on January 1,2016 with $500.On January 31,2016 a count of the fund revealed: $105 in cash remaining and vouchers for miscellaneous payments totaling $400.What effect will the necessary entries to replenish the fund have on the company's financial statements?

Question

Peterson Company's petty cash fund was established on January 1,2016 with $500.On January 31,2016 a count of the fund revealed: $105 in cash remaining and vouchers for miscellaneous payments totaling $400.What effect will the necessary entries to replenish the fund have on the company's financial statements?
Peterson Company's petty cash fund was established on January 1,2016 with $500.On January 31,2016 a count of the fund revealed: $105 in cash remaining and vouchers for miscellaneous payments totaling $400.What effect will the necessary entries to replenish the fund have on the company's financial statements?

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The Answer of Peterson Company's petty cash fund was established on January 1,2016 with $500.On January 31,2016 a count of the fund revealed: $105 in cash remaining and vouchers for miscellaneous payments totaling $400.What effect will the necessary entries to replenish the fund have on the company's financial statements?

Peterson Company's Petty Cash Fund Was Established on January 1,2016