Leo Company has a petty cash fund of $300. At the end of the month, $42.38 remains

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Leo Company has a petty cash fund of $300. At the end of the month, $42.38 remains in the fund along with $260.75 in various receipts for purchases. The journal entry to replenish the fund would be
Debit various expenses, $260.75, and credit Cash for $260.75.
Debit Petty Cash for $257.62, and credit Cash for $257.62.
Debit various expenses, $260.75; credit Cash Over for $3.13, and credit Cash for $257.62.
Debit various expenses, $254.49; debit Cash Short for $3.13, and credit Cash for $257.62.
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Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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