Solved

A Petty Cash Fund Was Established with a $400 Balance

Question 142

Multiple Choice

A petty cash fund was established with a $400 balance. It currently has cash of $10 and petty cash tickets as shown below. A petty cash fund was established with a $400 balance. It currently has cash of $10 and petty cash tickets as shown below.   The journal entry to replenish the account would be which of the following: A) Debit various expenses $390, credit Cash $390 B) Debit various expenses $390, credit Petty cash fund $390 C) Debit Cash $10, credit various expenses $10 D) Credit Petty cash fund $390, debit Cash $390 The journal entry to replenish the account would be which of the following:


A) Debit various expenses $390, credit Cash $390
B) Debit various expenses $390, credit Petty cash fund $390
C) Debit Cash $10, credit various expenses $10
D) Credit Petty cash fund $390, debit Cash $390

Correct Answer:

verifed

Verified

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

Related Questions