System company needs to replenish its $1000 petty cash fund. Its petty cash box has $150 cash and petty cash receipts of $840. The journal entry to replenish the fund includes a. A credit to cash for $150. b. A credit to petty cash for $840. c. A credit to cash over and short for $10. d. A debit to cash over and short for $10.

System company needs to replenish its $1000 petty cash fund. Its petty cash box has $150 cash and petty cash receipts of $840. The journal entry to replenish the fund includes a. A credit to cash for $150. b. A credit to petty cash for $840. c. A credit to cash over and short for $10. d. A debit to cash over and short for $10.

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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A. Started a petty cash fund in the amount of $550.B. Replenished petty cash fund using the following expenses: Auto Expense $22, Office Expense $45, Postage Expense $24, Miscellaneous Expense $33. Cash on hand is $426.C. The company has decided to reduce the petty cash fund to $350. Record these transactions. If an amount box does not require an entry, leave it blank. A. - Select - - Select - - Select - - Select - B. - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - - Select - C. - Select - - Select -
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D5.
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