Pelcher Company maintains a $500 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $130 for office supplies, $180 for merchandise inventory, and $90 for miscellaneous expenses. There is a cash overage of $6. The journal entry to replenish the fund on January 31 is: 4 Multiple Choice O Debit Office Supplies Expense, $130, Debit Merchandise Inventory, $180, Debit Miscellaneous expenses, $90, Debit Cash over and short, $6; Credit Petty cash, $406. Debit Office Supplies Expense, $130, Debit Merchandise Inventory, $180; Debit Miscellaneous expenses, $90, Debit Cash over and short, $6: Credit Cash, $406. Debit Office Supplies Expense, $130, Debit Merchandise Inventory. $180, Debit Miscellaneous expenses, $90: Credit Cash over and short, $6; Credit Petty cash, $394. Debit Office Supplies Expense, $130; Debit Merchandise Inventory. $180, Debit Miscellaneous expenses, $90, Credit Cash over and short $6; Credit Cash, $394 Debit Office Supplies Expense, $130, Debit Merchandise Inventory, $180; Debit Miscellaneous expenses, $90, Debit Cash over and short, $6. Credit Petty cash, $500.

Pelcher Company maintains a $500 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $130 for office supplies, $180 for merchandise inventory, and $90 for miscellaneous expenses. There is a cash overage of $6. The journal entry to replenish the fund on January 31 is: 4 Multiple Choice O Debit Office Supplies Expense, $130, Debit Merchandise Inventory, $180, Debit Miscellaneous expenses, $90, Debit Cash over and short, $6; Credit Petty cash, $406. Debit Office Supplies Expense, $130, Debit Merchandise Inventory, $180; Debit Miscellaneous expenses, $90, Debit Cash over and short, $6: Credit Cash, $406. Debit Office Supplies Expense, $130, Debit Merchandise Inventory. $180, Debit Miscellaneous expenses, $90: Credit Cash over and short, $6; Credit Petty cash, $394. Debit Office Supplies Expense, $130; Debit Merchandise Inventory. $180, Debit Miscellaneous expenses, $90, Credit Cash over and short $6; Credit Cash, $394 Debit Office Supplies Expense, $130, Debit Merchandise Inventory, $180; Debit Miscellaneous expenses, $90, Debit Cash over and short, $6. Credit Petty cash, $500.

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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