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A Petty Cash Fund Was Established with a $500 Balance

Question 5

Multiple Choice

A petty cash fund was established with a $500 balance.It currently has cash of $40 and petty cash tickets as shown below.
 Travel expense $120 Office supplies expense 310 Equipment rental expense 30\begin{array} { | l | l | } \hline \text { Travel expense } & \$ 120 \\\hline \text { Office supplies expense } & 310 \\\hline \text { Equipment rental expense } & 30\\\hline\end{array}
Which of the following would be the journal entry to replenish the Petty cash account?


A) debit various expenses $460; credit Petty cash $460
B) credit Petty cash $460; debit Cash $460
C) debit Cash $40; credit various expenses $40
D) debit various expenses $460; credit Cash $460

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