Meng Company maintains a $345 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $89 for office supplies, $178 for merchandise inventory, and $29 for miscellaneous expe cash shortage of $7. Based on this information, the amount of cash in the fund before the replenishment is Multiple Choice O O O $345. $296. $49. $56.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Meng Company maintains a $345 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $89 for office supplies, $178 for merchandise inventory, and $29 for miscellaneous expenses. There is a
cash shortage of $7. Based on this information, the amount of cash in the fund before the replenishment is:
O
C
C
O
$345.
$296.
$49.
$56.
$42
4
Seved
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Transcribed Image Text:Multiple Choice Meng Company maintains a $345 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $89 for office supplies, $178 for merchandise inventory, and $29 for miscellaneous expenses. There is a cash shortage of $7. Based on this information, the amount of cash in the fund before the replenishment is: O C C O $345. $296. $49. $56. $42 4 Seved < Prev 22 of 28 E Help Next >
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