Meng Co. maintains a $315 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $83 for office supplies, $166 for merchandise inventory, and $23 for miscellaneous expenses. There is a cash shortage of $10. The journal entry to replenish the fund on January 31 is: Multiple Choice Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Dr. Cash Over and Short, $10; Cr. Cash, $282. О Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Dr. Cash Over and Short, $10; Cr. Petty Cash, $282. О О Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Cr. Cash Over and Short, $10; Cr. Cash, $262. Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Cr. Cash Over and Short, $10; Cr. Petty Cash, $262. Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Cr. Cash Over and Short, $10; Cr. Petty Cash, $315.
Meng Co. maintains a $315 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $83 for office supplies, $166 for merchandise inventory, and $23 for miscellaneous expenses. There is a cash shortage of $10. The journal entry to replenish the fund on January 31 is: Multiple Choice Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Dr. Cash Over and Short, $10; Cr. Cash, $282. О Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Dr. Cash Over and Short, $10; Cr. Petty Cash, $282. О О Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Cr. Cash Over and Short, $10; Cr. Cash, $262. Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Cr. Cash Over and Short, $10; Cr. Petty Cash, $262. Dr. Office Supplies Expense, $83; Dr. Merchandise Inventory, $166; Dr. Miscellaneous Expenses, $23; Cr. Cash Over and Short, $10; Cr. Petty Cash, $315.
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 1PA: On September 1, French company has decided to initiate a petty cash fund in the amount of $800....
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