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Alpha Company replenished a $500 petty cash fund. The petty cash box contained vouchers of $87...

Alpha Company replenished a $500 petty cash fund. The petty cash box contained vouchers of $87 for postage, $173 for supplies, $58 for gasoline, and cash on hand of $180. The journal entry to reflect replenishment would include a:

Question 6 options:

credit to Cash or $180

credit to Petty Cash for $2

debit to Cash Short for $2

credit to Cash for $318
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Answer #1

Correct answer-----------debit to Cash Short for $2

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Complete entry will look lie this

General Journal Debit Credit
Postage $                 87.00
Supplies $              173.00
Gasoline $                 58.00
Cash Short $                   2.00
           Cash $ 320.00
(To replenish petty cash)
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