In Exercise 5, if the custodian decided to raise the level of petty cash to $30.75, what would be the journal entry to replenish? (Use a general journal entry.)
In Exercise 5
Petty cash was originally established for $23. During the month, $5.20 was paid out for thumbtacks and $5.90 for paper cups. During replenishment, the custodian discovered that the balance in petty cash was $7.80. Record, using a general journal entry, the replenishment of petty cash back to $23.