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Assume that the custodian of a $450 petty cash fund has $53.50 in coins and currency plus $392.50 in receipts at the end of the
Assume that the custodian of a $450 petty cash fund has $53.50 in coins and currency plus $392.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include: A debit to Cash for $388.50. A credit to Cash Over and Short for $4.00. A debit to Petty Cash for $392.50. A credit to Cash for $396.50. A debit to Cash for $396.50
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