Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Join our platform to connect with experts ready to provide accurate answers to your questions in various fields. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

At the end of the month, ABC Co.'s petty cash fund contains $4 in cash and receipts for postage of $50 and delivery expenses of $44. It started out with $100 in the fund at the beginning of the month. Demonstrate the journal entry to replenish the account and recognize its shortage by choosing the correct action from those given below.
A. Petty Cash is debited for $96.
B. Cash is credited for $98.
C. Cash is credited for $94.
D. Cash is credited for $96.

Sagot :

PeterPan58
ANSWER:
D. Cash is credited for $96.

Hope it helps u! :)
Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.