Question

A $100 petty cash fund has a cash of $40 and valid receipts for $60. The entry to replenish the fund would include a:

Answer 1

A credit to cash account and a debit to petty cash.

Step-by-step explanation:

In order to replenish the petty cash the entry must credit cash and debit petty cash while keepin a log of the expenses against the receipts.