20 Collabora Text Shape Media Comment 31) A petty cash fund was established with a $600 balance. It currently has cash of $25 and petty cash tickets as shown below: Travel expense $130 Office supplies $305 Equipment rental expense $85 Which of the following would be included in the journal entry to replenish the Petty Cash account? A) Debit Cash Short & Over for $55 B) Credit Petty Cash $55 C) Debit Petty Cash $55 D) Credit Cash Short & Over for $55 32) Under the net method of handling credit and debit card payments, A) the net amount of the sale is credited to the Sales Revenue account on the date of sale. B) the credit to the Sales Revenue account is the selling price less the transaction fee. C) the business writes a check to the credit and debit card processor for the processing fee. D) the processing fee is debited to the Credit Card Expense account on the date of sale. 33) Under the gross method, when the credit card processor deposits the cash proceeds from credit and debit card sales in the bank account of the business A) there will be no fee charged for the transaction. B) the business will credit cash for the gross amount of the sale. C) the total sales plus the processing fee assessed equals the net amount of cash deposited. D) the processing fees are deducted from the company's bank account by the processor. 34) A customer's note receivable for $2,100 is collected by the bank. The journal entry prepared from the bank reconciliation would A) debit cash, credit interest receivable B) debit cash, credit notes receivable C) debit accounts receivable, credit cash D) debit notes receivable, credit cash S Bu 35) A company wrote check #506 for $1,200 and check 510 for $900. Neither of the checks were shown on the monthly bank Dr statement. How can this be accounted for in the bank reconciliation and the journal? A) an addition to the book side; a joumal entry is recorded B) an addition the bank side; a journal entry is recorded C) a subtraction from the book side; a journal entry is not recorded D) a subtraction from the bank side, a journal entry is not recorded