Assume that the custodian of a $480 petty cash fund has $72.50 in coins and currency...
Homework Answers
Answer:
| Accounts titles and Explanation | Debit ($) | Credit ($) |
| Expenses | 400.50 | |
| Cash over and short (480-(400.5+72.50) | 7.00 | |
| Cash | 407.50 | |
| (To recored petty cash of $480 replenished with $7 shortage) |
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Assume that the custodian of a $480 petty cash fund has $72.50 in
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