Assume that the custodian of a $495 petty cash fund has $77.50 in coins and currency plus $409.50 in receipts at the end of the month. The entry to replenish the petty cash fund will include:
A. A debit to Cash for $402.
B. A debit to Cash Over and Short for $8.00.
C. A debit to Petty Cash for $409.50.
D. A credit to Cash for $409.50.
E. A credit to Cash Over and Short for $418.
DATE
Question answered on Mar 11, 2020
PRICE: $20
Solution~000552147485615.zip (18.37 KB)
