Multiple Choice
If a petty cash fund is established in the amount of $250 and contains $151 in cash and $95 in receipts for disbursements when it is replenished the journal entry to record replenishment should include credits to the following accounts
A) Petty Cash $95.
B) Petty Cash $99.
C) Cash $95; Cash Over and Short $4.
D) Cash $99.
Correct Answer:
Verified
Correct Answer:
Verified
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Q141: Identify the internal control procedures applicable to
Q142: The entry to replenish a petty cash
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Q146: A highly automated computerized system of accounting
Q147: A remittance advice attached to a company
Q148: Match the appropriate description below with each
Q149: The custodian of the petty cash fund
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