Answer:
e. Debit Petty Cash $50 Credit Cash $ 50
Explanation:
The entry on October 01 is to reflect the increase in Petty Cash from $ 250 to $ 300. i.e the incremental effect is only $ 50. This is because for the regular replenishment that was done on September 30, the following entry would have been recorded:
Petty Cash - Debit $ 232
Cash - Credit $ 232
The entry for recording the petty cash expenses would be as follows;
Office Supplies expense debit $ 73
Merchandise Inventory debit $ 137
Miscellaneous expenses debit $ 22
Petty Cash credit $ 232
Answer:
spending the gospel to none jews
Answer:
debit Income Summary $12,000; credit Retained Earnings $12,000.
Explanation:
Based on the information given The entry to close Income Summary is:
Debit Income Summary $12,000
Credit Retained Earnings $12,000
(To close Income Summary)
