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strojnjashka [21]
2 years ago
7

A $298 petty cash fund has cash of $32 and receipts of $247. The journal entry to replenish the account would include credit to

Petty Cash for $247. debit to Cash for $247. debit to Petty Cash for $266. credit to Cash for $266.
Business
1 answer:
Nikolay [14]2 years ago
7 0

The journal entry to replenish the petty cash account is credit to Cash for $266.

<h3>How would petty cash be replenished?</h3>

The amount that needs to be replenished is:

= Petty cash fund - cash

= 298 - 32

= $266

This amount needs to be taken from the cash account which is why the cash account will be credited with $266.

Find out more on the petty cash fund at brainly.com/question/27585546

#SPJ1

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