Question

Assume that the custodian of a $810 petty cash fund has $182.50 in coins and currency plus $598.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include:

Multiple Choice

• A credit to Cash Over and Short for $628.

• A debit to Petty Cash for $598.50.

• A debit to Cash Over and Short for $29.00.

• A credit to Cash for $598.50.

• A debit to Cash for $570.

Answer 1

Answer:

A credit to cash for $628

Date	Particulars	Debit ($)	Credit ($)
	Expense	598.50
	Cash short and excess (810)-(598.50+182.50)	29
	Cash		628