Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company has a petty cash fund amount of $400. When replenished, it has petty cash receipts of $32 for gas expense, $32 for postage

image text in transcribed

A company has a petty cash fund amount of $400. When replenished, it has petty cash receipts of $32 for gas expense, $32 for postage expense, $16 for supplies expense, and $12 for miscellaneous expenses. Assume the cash balance is not over or short. In the journal entry, Cash would be credited for _____. A. $64. B. $80 C. $92 D. $76

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Audit Of Treasury And Cash Management

Authors: Badr Bentalha

1st Edition

B0BM3R6WG7, 979-8363213779

More Books

Students also viewed these Accounting questions