Solved

A Petty Cash Fund Was Established with a $600 Balance

Question 49

Multiple Choice

A petty cash fund was established with a $600 balance. It currently has cash of $25 and petty cash tickets as shown below. A petty cash fund was established with a $600 balance. It currently has cash of $25 and petty cash tickets as shown below. Which of the following would be the journal entry to replenish the Petty Cash account? A) Debit to Cash Short & Over for $55 B) Credit Cash Short & Over for $55 C) Debit Petty Cash $55 D) Credit Petty Cash $55 Which of the following would be the journal entry to replenish the Petty Cash account?


A) Debit to Cash Short & Over for $55
B) Credit Cash Short & Over for $55
C) Debit Petty Cash $55
D) Credit Petty Cash $55

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q44: Which of the following is a key

Q46: Which of the following describes "firewall"?<br>A)a malicious

Q47: A document authorizing a cash payment is

Q48: Internal auditors monitor company controls to safeguard

Q50: Which one of the following documents is

Q52: The following information is available for Jade

Q53: Internal control is an organizational plan that

Q54: In a good internal control system, which

Q171: In a bank reconciliation,a book error will

Q175: A pharmaceutical company testing drugs to determine