Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help on that Meng Company maintains a $370 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date

Need help on that

image text in transcribedimage text in transcribed

Meng Company maintains a $370 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $94 for office supplies, $188 for merchandise inventory, and $34 for miscellaneous expenses. There is a cash shortage of $10. The journal entry to replenish the fund on January 31 is: Multiple Choice Debit Office Supplies Expense, $94; Debit Merchandise Inventory, $188; Debit Miscellaneous Expenses, $34; Debit Cash Over and Short, $10; Credit Petty Cash, $326. Debit Office Supplies Expense. $94; Debit Merchandise Inventory, $188; Debit Miscellaneous Expenses. $34: Credit Cash Over and Short, $10; Credit Petty Cash, $306. Debit Office Supplies Expense, $94: Debit Merchandise Inventory. $188; Debit Miscellaneous Expenses, $34; Credit Cash Over and Short $10; Credit Cash, $306. Debit Office Supplies Expense, $94; Debit Merchandise Inventory, $188; Debit Miscellaneous Expenses, $34; Debit Cash Over and Short, $10; Credit Cash, $326. Debit Office Supplies Expense. $94: Debit Merchandise Inventory. $188; Debit Miscellaneous Expenses, $34; Credit Cash Over and Short, Debit Office Supplies Expense, $94; Debit Merchandise Inventory. $188; Debit Miscellaneous Expenses, $34; Debit Cash Over and Short, $10; Credit Petty Cash, $326. Debit Office Supplies Expense. $94; Debit Merchandise Inventory. $188; Debit Miscellaneous Expenses, $34; Credit Cash Over and Short, $10; Credit Petty Cash, $306. Debit Office Supplies Expense, $94; Debit Merchandise Inventory $188; Debit Miscellaneous Expenses, $34; Credit Cash Over and Short, $10; Credit Cash, $306. Debit Office Supplies Expense, $94. Debit Merchandise Inventory. $188; Debit Miscellaneous Expenses, $34; Debit Cash Over and Short, $10; Credit Cash, $326. Debit Office Supplies Expense. $94; Debit Merchandise Inventory, $188; Debit Miscellaneous Expenses. $34; Credit Cash Over and Short $10: Credit Petty Cash, $370

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

Financial Accounting A Business Perspective

Authors: Jefferson Williams, Roger Hermanson, James Don Edwards

10th Edition

1930789793, 978-1930789791

More Books

Students also viewed these Accounting questions

Question

What is overfitting? Why is it so important to watch out for?

Answered: 1 week ago

Question

Discuss how S. Truett Cathys values shaped Chick-fil-As operation.

Answered: 1 week ago