The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty
Question:
The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty cash tickets totaling $75 for office supplies. The entry to replenish the fund would contain
a. a credit to Cash Short & Over for $5.
b. a credit to Petty Cash for $80.
c. a debit to Cash Short & Over for $5.
d. a debit to Petty Cash for $80.
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Step by Step Answer:
The petty cash fund operates on a replenishment basis where the initial amount in this case 100 is s...View the full answer
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Related Book For 
Horngrens Accounting Volume 1
ISBN: 9780135359709
11th Canadian Edition
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood
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