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Assume that the custodian of a $660 petty cash fund has $132.50 in coins and currency plus $508.50 in receipts at the end of the
Assume that the custodian of a $660 petty cash fund has $132.50 in coins and currency plus $508.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include:
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A debit to Petty Cash for $508.50.
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A credit to Cash for $508.50.
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A debit to Cash Over and Short for $19.00.
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A debit to Cash for $490.
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A credit to Cash Over and Short for $528.
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