A petty cash fund was established with a 200 balance It curr

A petty cash fund was established with a $200 balance. It currently has cash of $35 and petty cash tickets as follows: Office expense $130 and Entertainment Expense $45. Which of the following would be included in the journal entry to replenish the Petty Cash fund?

A.

credit to Cash Short & Over for $10

B.

debit to Cash Short & Over for $10

C.

debit to Cash Short & Over for $25

D.

credit to Cash Short & Over for $25

Solution

Journal entry :

130

so answer is c) debit to Cash Short & Over for $25

Date accounts & explanation debit credit
Office expenses

130

Entertainment expenses 45
Cash Short & Over 25
    Cash 200
(To record replenish of petty cash fund)
A petty cash fund was established with a $200 balance. It currently has cash of $35 and petty cash tickets as follows: Office expense $130 and Entertainment Exp

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