Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

A petty cash fund was established with a $380 balance. It currently has cash of $42 and petty cash tickets totaling $338. Which of the

A petty cash fund was established with a $380 balance. It currently has cash of $42 and petty cash tickets totaling $338. Which of the following would be included in the entry to replenish the fund?

A. a credit to Petty Cash for $338

B. a debit to Petty Cash for $42

C. a credit to Cash for $42

D. a credit to Cash for $338

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions