Question

A company has a petty cash fund amount of $400. When​ replenished, it has petty cash tickets of $30 for gas​ expense, $30 for postage​ expense, $10 for supplies​ expense, and $11 for miscellaneous expenses. Assume the cash balance is not over or short.
In the journal​ entry, Cash would be credited for​ ____.

Answer 1

Answer:

$80

Explanation:

The Replenish journal entry is shown below:-

Gas expense Dr,                          $30

Postage expense Dr,                $30  

Supplies expense Dr,                   $10  

Miscellaneous expenses Dr,        $10  

      To, Cash                                            $80

(Being replenish of fund is recorded)

Therefore cash credited for $80