A petty cash fund of $200 has $17 in cash,$180 in petty cash vouchers,and $3 in miscellaneous receipts not included with the petty cash vouchers.The proper journal entry to replenish the fund would include a credit to Cash for

Question

Quizplus · Accepted Answer

The journal entry to replenish the petty cash fund includes debiting the designated expenses (such as office supplies, etc.) and crediting Cash for the total amount spent. In this case, the total amount spent is $183 ($180 in vouchers + $3 in miscellaneous receipts). Therefore, the credit to Cash would be $183. Choices A, B, and C are incorrect as they do not represent the total amount spent to replenish the fund.

A Petty Cash Fund of $200 Has $17 in Cash,$180