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TB MC Qu. 115 (Algo) Childers Company, which uses a... Childers Company, which uses a perpetual inventory system, has an established petty cash fund in
TB MC Qu. 115 (Algo) Childers Company, which uses a... Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 December 7 December 12 December 18 Freight charge for merchandise purchased Delivery charge for shipping to customer Purchase of office supplies Donation to charitable organization $ 42 $ 66 $ 31 $ 50 If, in addition to these receipts, the petty cash fund contains $301.00 of cash, the journal entry to reimburse the fund on December 31 will include: Multiple Choice A credit to Office Supplies Expense of $66. A debit to Petty Cash of $73. A credit to Cash Over and Short of $10.00. A debit to Transportation-In of $73. A credit to Cash of $199.00
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