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A petty cash fund was established with a $600 balance. It currently has cash of $17 and petty cash tickets as shown below: Travel expense
A petty cash fund was established with a $600 balance. It currently has cash of $17 and petty cash tickets as shown below: Travel expense Office supplies expense Equipment rental expense $103 280 80 Which of the following would be included in the journal entry to replenish the Petty Cash fund? A. debit to Cash Short & Over for $120 B. debit to Petty Cash for $120 OC. credit to Cash Short & Over for $120 OD. credit to Petty Cash for $120 A business maintains subsidiary accounts for each of its customers. On May 15, the business provides services on account: $2,100 to customer J. Anthony; $4,200 to customer A. Martin, and $1,500 to customer S. Lee. Which journal entry is needed to record these transactions? A. May 15 Service Revenue 7,800 Accounts Receivable 7,800 OB. May 15 Accounts Receivable J. Anthony 2,100 Accounts Receivable A. Martin 4,200 Accounts Receivable - S. Lee 1,500 Service Revenue 7,800 OC. May 15 Accounts Receivable 7,800 Service Revenue 7,800 D. May 15 Accounts Receivable Control 7,800 Sales Revenue 7,800
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