The entry at the end of the month to reimburse the petty cash for the amount spent is which of the following?

Question

Quizplus · Accepted Answer

The correct entry to reimburse petty cash involves debiting the petty cash expenses for the amount spent out of the petty cash fund and crediting the bank account from which the funds are drawn to replenish the petty cash. This reflects the expense recognition and the reduction in bank balance to replenish the petty cash.

The Entry at the End of the Month to Reimburse