Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Meng Company maintains a $390 petfy cash fund. On January 31 , the fund is replenished. The accumuloted receiots on that date represent $9 for

image text in transcribed
Meng Company maintains a $390 petfy cash fund. On January 31 , the fund is replenished. The accumuloted receiots on that date represent $9 for office supplies, 5196 for merchandise ithentory, and $38 for miscelianeous expenses. There is a cash shartage of $9. The jaurnal entry to ceplenish the fund bn Jattuary 31 is Muniple Onolice Debit Olfice Supplies Expense. \$98: Debit Merchandse irrentary. \$196, Debit Misceltenecus Expenses, 538, Crect Cash Over and Short 59. Credit Cash, $323. Credit Petty Cash, $390. Debit OHlice Supplies Expense, \$96, Debit Merchandse imwentory, \$96; Debi Miscelonceus Expenset, \$38, Credn Cith Over and 5hat 59 , Crodt Petty Cash, $323 Credt Petly Cash, $341. Credit Cash 5341

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

At Least Know This CPA Review 2021 Financial Accounting And Reporting

Authors: At Least Know This

1st Edition

979-8533826730

More Books

Students also viewed these Accounting questions

Question

Describe ERP and how it can create efficiency within a business

Answered: 1 week ago