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A Petty Cash Fund Was Established with a $600 Balance

Question 88

Multiple Choice

A petty cash fund was established with a $600 balance. It currently has cash of $25 and petty cash tickets as shown below.  Travel expense $130 Office supplies $305 Equipment rental expense $85\begin{array} { | l | r | } \hline \text { Travel expense } & \$ 130 \\\hline \text { Office supplies } & \$ 305 \\\hline \text { Equipment rental expense } & \$ 85 \\\hline\end{array} Which of the following would be the journal entry to replenish the Petty Cash account?


A) Debit to Cash Short & Over for $55
B) Credit Cash Short & Over for $55
C) Debit Petty Cash $55
D) Credit Petty Cash $55

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