A $113 petty cash fund has cash of $18 and receipts of $81. Which of the...

A $113 petty cash fund has cash of $18 and receipts of $81. Which of the following would be part of the journal entry to replenish the account?

Select the correct answer.

credit to Petty Cash for $81

credit to Cash for $113

debit to Cash for $18

debit to Cash Short and Over for $14

Expert Solution

Journal Entries
Date	Account Title and explanation	Debit	Credit

	Petty Cash	$ 81
	Cash Short and over	$ 14
	To Petty Cash		$ 14
	To Cash		$ 81


	Working notes
	Petty Cash Balance	$ 18
	Cash Receipts =	$ 81
	Total Balance	$ 99
	Petty Cash Original bal	$ 113
	Cash Short and over	$ 14



	Answer = Option 4 = debit to Cash Short and Over for $14

ekkarill92 answered 1 year ago

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