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The following expenses were paid out a Petty Cash fund which started with $350 Delivery fee =$123.47; Repairs =$87.38 and; Supplies =$132.59. Furthermore, $12.36 remained
The following expenses were paid out a Petty Cash fund which started with $350 Delivery fee =$123.47; Repairs =$87.38 and; Supplies =$132.59. Furthermore, $12.36 remained after the expenses were paid. The correct journal entry to reimburse Petty Cash would include Multiple Choice a credit to Cash Over/Short for $5.80 and a credit to Cash for $337.54 a debit to cash for $12.36 and a credit to each of the expenses a debit to cash for $337.64 and a debit to Cash Over/Short for $5.80 None of these choices is correct The following expenses were paid out a Petty Cash fund which started with $350 Delivery fee =$123.47; Repairs =$87.38 and; Supplies =$132.59. Furthermore, $12.36 remained after the expenses were paid. The correct journal entry to reimburse Petty Cash would include Multiple Choice a credit to Cash Over/Short for $5.80 and a credit to Cash for $337.54 a debit to cash for $12.36 and a credit to each of the expenses a debit to cash for $337.64 and a debit to Cash Over/Short for $5.80 None of these choices is correct
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