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ABC Company maintains a petty cash fund for small expenditures. The following transactions occurred during May 2020 May 01 Established petty cash fund by .writing
ABC Company maintains a petty cash fund for small expenditures. The following transactions occurred during May 2020 May 01 Established petty cash fund by .writing a check for BD150 May 15 Replenished the petty cash fund by writing a check for BD144. On this date the fund consisted of BD6 in cash and the following petty cash receipts entertainment expense BD113, and, miscellaneous expense BD35 May 31 Decreased the amount of the petty .cash fund to BD125 Required On May 31 Instead of decreased , if the ABC Company wants to increase the petty cash fund to BD225. The journal entry for increasing the petty cash fund should be (4 ) Debit Cash BD125 and Credit Petty Cash BD125 Debit Cash BD225 and Credit Petty Cash BD225 ebit Petty Cash BD75 and Credit Cash BD75 ABC Company maintains a petty cash fund for small expenditures. The following transactions occurred during May 2020 May 01 Established petty cash fund by .writing a check for BD150 May 15 Replenished the petty cash fund by writing a check for BD144. On this date the fund consisted of BD6 in cash and the following petty cash receipts entertainment expense BD113, and, miscellaneous expense BD35 May 31 Decreased the amount of the petty .cash fund to BD125 Required On May 31 Instead of decreased , if the ABC Company wants to increase the petty cash fund to BD225. The journal entry for increasing the petty cash fund should be (4 ) Debit Cash BD125 and Credit Petty Cash BD125 Debit Cash BD225 and Credit Petty Cash BD225 ebit Petty Cash BD75 and Credit Cash BD75
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