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Assume a company has $250 in its petty cash fund. It expends $175 as follows: $100 for delivery expenses, $40 for postage, $35 for office
Assume a company has $250 in its petty cash fund. It expends $175 as follows: $100 for delivery expenses, $40 for postage, $35 for office supplies. There is $75 of cash remaining in the fund after these disbursements. The journal entry to replenish the petty cash fund includes
A credit to Office Supplies expense for $35
A credit to Cash for $175
A credit to Cash for $250
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