Question

A petty cash fund of $100 is replenished when the fund contains $4 in cash and receipts for $94. The entry to replenish the fund would

Answer 1

Debit to Cash Over and Short for $3"

Step-by-step explanation:

When A petty cash fund of $100 is replenished when the fund contains $4 in cash and receipts for $94 . It means $94 is already paid by receiving receipts of the expenses and $3 in petty cash fund , since the petty cash is of $100 there is short of $3 ($100 - $94 -$3)