Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 Freight charge for merchandise purchased December 7 Delivery charge for shipping to customer December 12 Purchase of office supplies December 18 Donation to charitable organization If, in addition to these receipts, the petty cash fund contains $279.75 of cash, the journal entry to reimburse the fund on December 31 will include: Multiple Choice Tradial A credit to Cash Over and Short of $11.25 $47 $71 $36 $55 A debit to Transportation-in of $83

Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 Freight charge for merchandise purchased December 7 Delivery charge for shipping to customer December 12 Purchase of office supplies December 18 Donation to charitable organization If, in addition to these receipts, the petty cash fund contains $279.75 of cash, the journal entry to reimburse the fund on December 31 will include: Multiple Choice Tradial A credit to Cash Over and Short of $11.25 $47 $71 $36 $55 A debit to Transportation-in of $83

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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