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7. In preparing the Apil bank reconciliation for Oscar Company, it was discovered that on Apr 10 a check was written to pay delivery expense
7. In preparing the Apil bank reconciliation for Oscar Company, it was discovered that on Apr 10 a check was written to pay delivery expense of $45 but the check was erroneously recorded as $$4 in the company's books. The journal entry required to correct the erroris a. Cash Short and Over Cash b. Delivery Expense Cash c. Cash 9 Delivery Expense 9 d. Cash 9 Cash Short and Over 9 8. What account is used to record the amount of cash shortages or overages relative to a petty cash system? a. Petty Cash Payable b. Petty Cash c. Cash Short and Over d. Petty Cash Expense 9. On April 30, 2013, Southern Company established a petty cash fund or si,000, on M 2013, a disbursement of $255 was made from the fund for paym entry should be made on May 1, 2013 to record this disbursement? ent of delivery expense. What A. Debit delivery expense, $255; credit cash, $255. B. Debit petty cash, $255; credit cash, $255. C. Debit delivery expense, $255; credit petty cash $255, D. No entry necessary
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