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BigorU [14]
3 years ago
11

Silver Co. has a $400 petty cash fund. At the end of the first month the accumulated receipts represent $63 for delivery expense

s, $207 for merchandise inventory, and $32 for miscellaneous expenses. The fund has a balance of $98. The journal entry to record the reimbursement of the account includes a:
Business
1 answer:
lutik1710 [3]3 years ago
3 0

Answer:

Credit to cash for $302

Explanation:

Account Titles and Explanation                        Debit       Credit

Delivery expenses                                               $63

Miscellaneous inventory                                      $207

Miscellaneous expense                                       $32

Cash                                                                                   $302

(To record petty cash reimbursement)

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