If a petty cash fund is established in the amount of $250, and contains $153 in cash and $94 in receipts for disbursements when it is replenished, the journal entry to record replenishment should include credits to the following accounts Petty Cash, $97. Cash, $97. Cash, $94; Cash Over and Short, $3. Petty Cash, $94.
This question was answered on: May 23, 2022
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