Triple Company's accountant made an entry that included the following items: debit postage expense $12.42,debit office supplies expense $27.33,debit cash over/short $2.19.If the original amount in petty cash is $320,how much is in petty cash before the reimbursement?
A)$320.00
B)$202.44
C)$37.56
D)$275.87
E)$278.06

Question

Quizplus · Accepted Answer

The total expenses recorded are $12.42 + $27.33 + $2.19 = $41.94. Subtracting this from the original petty cash amount of $320 gives $278.06.

Triple Company's Accountant Made an Entry That Included the Following