Pelcher Co. maintains a $440 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $118 for office supplies, $156 for merchandise inventory, and $78 for miscellaneous expenses. There is a cash overage of $4. The Journal entry to replenish the fund on January 31 is: Multiple Choice Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Cr. Cash over and short, $4; Cr. Cash, $348. О Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Cr. Cash over and short, $4; Cr. Petty cash, $348. О Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Dr. Cash over and short, $4; Cr. Petty cash, $356. Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Dr. Cash over and short, $4; Cr. Cash, $356. O Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Dr. Cash over and short, $4; Cr. Petty cash, $440.
Pelcher Co. maintains a $440 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $118 for office supplies, $156 for merchandise inventory, and $78 for miscellaneous expenses. There is a cash overage of $4. The Journal entry to replenish the fund on January 31 is: Multiple Choice Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Cr. Cash over and short, $4; Cr. Cash, $348. О Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Cr. Cash over and short, $4; Cr. Petty cash, $348. О Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Dr. Cash over and short, $4; Cr. Petty cash, $356. Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Dr. Cash over and short, $4; Cr. Cash, $356. O Dr. Office Supplies Expense, $118; Dr. Merchandise inventory, $156; Dr. Miscellaneous expenses, $78; Dr. Cash over and short, $4; Cr. Petty cash, $440.
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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