Question

A $147 petty cash fund has cash of $21 and receipts of $132. The journal entry to replenish the account would include a a. credit to Cash Short and Over for $6 b. credit to Cash for $147 c. credit to Petty Cash for $132 d. debit to Cash for $21

Answer 1

The answer is a). credit to Cash Short and Over for $6

Step-by-step explanation:

REPLENISH ENTRY

Date account and explanation debit credit

Receipts 132

Cash over and short [(132+21) - 147] 6

Cash 126

(To record replenishment)

So answer is a). credit to Cash Short and Over for $6