Question

A company has a petty cash fund amount of $300. When replenished, it has petty cash receipts of $33 for gas expense, $31 for postage expense, $11 for supplies expense, and $12 for miscellaneous expenses. Assume the cash balance is not over or short. In the journal entry, Cash would be credited for ________.A) $87B) $76C) $64

D) $75

Answer 1

correct option is A) $87

Step-by-step explanation:

given data

cash fund amount = $300

gas expense= $33

postage expense = $31

supplies expense = $11

miscellaneous expenses = $12

to find out

the journal entry, Cash would be credited for

solution

we prepare here journal entry that is express as

journal entry

Date accounts & explanation debit credit

Gas expense $33

Postage expense $31

Supplies expense $11

Miscellaneous expense $12

Cash $ 87

cash = ( 33+31+11+12)

so correct option is A) $87