The journal entry on January 31 to record replenishment of the petty cash fund includes:
A) A credit to Petty Cash for $575.
B) Debits to various expenses totaling $575.
C) A debit to Petty Cash for $575.
D) A debit to Cash for $575.

Question

Quizplus · Accepted Answer

When replenishing the petty cash fund, the expenses paid out of the fund are recorded as debits to the respective expense accounts, totaling the amount used, which is $575 in this case.

The Journal Entry on January 31 to Record Replenishment of the Petty