A petty cash fund was established with a $350 balance. It currently has cash of $41 and petty cash tickets totaling $309. Which

Question

3 years ago

13

A petty cash fund was established with a $350 balance. It currently has cash of $41 and petty cash tickets totaling $309. Which

of the following would be included in the entry to replenish the fund?
A. A debit to Petty Cash for $41
B. A credit to Cash for $41
C. A credit to Petty Cash for $309
D. Debits to various expenses for $309

Business

1 answer:

Vesna [10] · Answer 1 · 2022-06-14T09:41:56+03:00

Answer:

C. A credit to Petty Cash for $309

Explanation:

Based on the information given we were told that the PETTY CASH tickets total the amount of $309 which therefore means that the appropriate entry included in the entry to REPLENISH THE FUND will be :

A credit to Petty Cash for $309

(Replenish fund)