Business, 19.12.2019 22:31 mallardmya2006
Childers company has an established petty cash fund in the amount of $500. the fund was last reimbursed on november 30. at the end of december, the fund contained the following petty cash receipts:
december 4 freight charge for merchandise purchased $ 51
december 7 delivery charge for shipping to customer $ 75
december 12 purchase of office supplies $ 40
december 18 donation to charitable organization $ 59
if, in addition to these receipts, the petty cash fund contains $262.75 of cash, the journal entry to reimburse the fund on december 31 will include:
a) a debit to transportation-in of $91.
b) a debit to petty cash of $91.
c) a credit to office supplies of $75.
d) a credit to cash over and short of $12.25.
e) a credit to cash of $237.25.
Answers: 3
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