question archive A $135 petty cash fund has cash of $28 and receipts of $110
A $135 petty cash fund has cash of $28 and receipts of $110
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A $135 petty cash fund has cash of $28 and receipts of $110. The journal entry to replenish the account would include a
- credit to Petty Cash for $110.
- debit to Cash for $110.
- credit to Cash Over and Short for $3.
- credit to Cash for $82.
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Answer:
C .
Step-by-Step explanation
Credit to cash over and short = ($28 + $110) - $135
= $138 - $135
= $3
The credit to cash over and short of $3.
