Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A petty cash fund of $170 is replenished when the fund contains $5 in cash and receipts for $162. The entry to replenish the fund

A petty cash fund of $170 is replenished when the fund contains $5 in cash and receipts for $162. The entry to replenish the fund would debit Cash Over and Short for $3. O credit Cash Over and Short for $3. O credit Miscellaneous Revenue for $3. O debit Miscellaneous Expense for $3.
image text in transcribed
A petty cash fund of $170 is replenished when the fund contains $5 in cash and receipts for $162. The entry to replenish the fund would debit Cash Over and Short for $3. credit Cash Over and Short for \$3. credit Miscellaneous Revenue for $3. debit Miscellaneous Expense for $3

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

IT Audit Control And Security

Authors: Robert R. Moeller

1st Edition

0471406767, 9780471406761

More Books

Students also viewed these Accounting questions