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