Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The custodian of a $ 4 5 0 petty cash fund discovers that the fund has $ 6 1 . 9 0 in coins and

The custodian of a $450 petty cash fund discovers that the fund has $61.90 in coins and currency plus $383.00 in receipts at the end of the month. The entry to replenish the petty cash fund will include:
Multiple Choice
A debit to Cash for $377.90.
A credit to Cash for $388.10.
A debit to Cash for $388.10.
A debit to Petty Cash for $383.00.
A credit to Cash Over and Short for $5.10.
Question 1 of 10 Total 1 of 10

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

Cost management a strategic approach

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

5th edition

73526940, 978-0073526942

More Books

Students also viewed these Accounting questions