A $50 petty cash fund has cash of $20 and valid receipts for $40.The entry to replenish the fund would include a:

Name: A $50 petty cash fund has cash of $20 and valid receipts for $40.The entry to replenish the fund would include a:
Brand: Quizplus
Rating: 4.7 (58 reviews)

Question

Quizplus · Accepted Answer

The entry to replenish the petty cash fund should credit Cash for the amount needed to bring the fund back to its original balance. Since there is $20 in cash and $40 in receipts, $30 is needed to replenish the fund to $50.

A $50 Petty Cash Fund Has Cash of $20 and Valid