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DogCo has a petty cash fund of $275. At the end of the month, $14.37 remains in the fund along with $269.43 in various receipts.
DogCo has a petty cash fund of $275. At the end of the month, $14.37 remains in the fund along with $269.43 in various receipts. The journal entry to replenish the fund would be to:
A. debit Petty Cash for $260.63 and credit Cash for $260.63.
B. debit various expenses, $269.43 and credit Cash for $269.43.
C. debit various expenses, $269.43; credit Cash Over for $8.80 and credit Cash for $260.63.
D. debit various expenses, $269.43; debit Cash Short for $8.80 and credit Cash for $278.23
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