A petty cash fund of $100 is replenished when the fund contains $3 in cash and receipts for $93
debit Cash Over and Short for $4.
credit Miscellaneous Revenue for $4.
credit Cash Over and Short for $4.
debit Miscellaneous Expense for $4.
Homework Answers
Credit means to put back and debit means to take away.
Petty cash is always replenished after moeny is used. If you used 93.00 and had 3.00 still in petty cash that would = 96.00 leaving the petty cash 4.00 unacountable for which is a shortage
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A petty cash fund of $100 is replenished when the fund contains $3 in cash and receipts for $93
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Calculator Petty Cash Fund Entries Journalize the entries to record the following: a. Check is issued to establish a petty cash fund of $1,500 b. The amount of cash in the petty cash fund is now $510. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $574; miscellaneous selling expense, $238; miscellaneous administrative expense, $149. (Because the amount of the check to replenish the fund plus the balance in the fund...
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