Question

A company has a petty cash fund amount of $400. When​ replenished, it has petty cash tickets of $30 for gas​ expense, $30 for postage​ expense, $10 for supplies​ expense, and $11 for miscellaneous expenses. Assume the cash balance is not over or short.

In the journal​ entry, Cash would be credited for​ ____.

Answer 1

$80

Step-by-step explanation:

The Replenish journal entry is shown below:-

Gas expense Dr, $30

Postage expense Dr, $30

Supplies expense Dr, $10

Miscellaneous expenses Dr, $10

To, Cash $80

(Being replenish of fund is recorded)

Therefore cash credited for $80