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Assume that the Petty Cashier of a $400 petty cash fund has $340 in cash plus $60 in receipts at the end of the month.
Assume that the Petty Cashier of a $400 petty cash fund has $340 in cash plus $60 in receipts at the end of the month. The entry to replenish (reimburse) the petty cash fund will include: A credit to Cash for $60 A credit to Cash for $340 OA debit to Cash for $340 A debit to Cash for $60 Hazards company had the following data: Beginning inventory (on May 1) Purchases during May Cost of goods sold during May $190 $2,700 $2,870 Based on the above data, calculate ending inventory as of May 30: $20 $2,510 $360 $5,760
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