Quibble Company established a $300 petty cash fund by issuing a check to the custodian on February 1. On February 15, the petty cash fund was replenished and increased to $800 in total. The contents of the petty cash fund at the time of the February 15 replenishment were:
The company uses the perpetual inventory method. Prepare Quibble's general journal entry to
record both the reimbursement and the increase of the petty fund on February 15.

Question

Quibble Company established a $300 petty cash fund by issuing a check to the custodian on February 1. On February 15, the petty cash fund was replenished and increased to $800 in total. The contents of the petty cash fund at the time of the February 15 replenishment were:
  The company uses the perpetual inventory method. Prepare Quibble's general journal entry to
record both the reimbursement and the increase of the petty fund on February 15.

Quizplus · Accepted Answer

The Answer of Quibble Company established a $300 petty cash fund by issuing a check to the custodian on February 1. On February 15, the petty cash fund was replenished and increased to $800 in total. The contents of the petty cash fund at the time of the February 15 replenishment were:
  The company uses the perpetual inventory method. Prepare Quibble's general journal entry to
record both the reimbursement and the increase of the petty fund on February 15.

Quibble Company Established a $300 Petty Cash Fund by Issuing