A company has a petty cash fund amount of $200. When replenished, it has petty cash tickets of $33 for gas expense, $31 for postage expense, $16 for supplies expense, and $12 for miscellaneous expenses. Assume the cash balance is not over or short. In the journal entry, Cash would be credited for ________.

Question

Quizplus · Accepted Answer

The total of the petty cash tickets is $33 (gas) + $31 (postage) + $16 (supplies) + $12 (miscellaneous) = $92. This is the amount that will be replenished, and thus, Cash would be credited for $92 to bring the petty cash fund back to its original amount of $200.

A Company Has a Petty Cash Fund Amount of $200