Childers Company,which uses a perpetual inventory system,has an established petty cash fund in the amount of $400.The fund was last reimbursed on November 30.At the end of December,the fund contained the following petty cash receipts:
$$\begin{array} { | l | l | r | }
\hline \text { December } 4 & \text { Freight charge for merchandise purchased } & \$ 62 \
\hline \text { December } 7 & \text { Delivery charge for shipping to customer } & \$ 46 \
\hline \text { December } 12 & \text { Purchase of office supplies } & \$ 30 \
\hline \text { December } 18 & \text { Donation to charitable organization } & \$ 51 \
\hline
\end{array}$$
If,in addition to these receipts,the petty cash fund contains $201 of cash,the journal entry to reimburse the fund on December 31 will include:

Question

Childers Company,which uses a perpetual inventory system,has an established petty cash fund in the amount of $400.The fund was last reimbursed on November 30.At the end of December,the fund contained the following petty cash receipts:
$$\begin{array} { | l | l | r | } 
\hline \text { December } 4 & \text { Freight charge for merchandise purchased } & \$ 62 \
\hline \text { December } 7 & \text { Delivery charge for shipping to customer } & \$ 46 \
\hline \text { December } 12 & \text { Purchase of office supplies } & \$ 30 \
\hline \text { December } 18 & \text { Donation to charitable organization } & \$ 51 \
\hline
\end{array}$$
If,in addition to these receipts,the petty cash fund contains $201 of cash,the journal entry to reimburse the fund on December 31 will include:

Quizplus · Accepted Answer

The petty cash fund was reimbursed for $199 ($400 - $201 = $199).

Childers Company,which Uses a Perpetual Inventory System,has an Established Petty