Cesario Company has a petty cash fund of $360. At the end of the month, $7 remains in the fund along with $330 in various receipts. The journal entry to replenish the fund would show a debit(s) to:
A) various expenses for $330 and Cash short of $23.
B) various expenses for $330 and Cash over of $23.
C) Cash for $353.
D) Cash for $330.
A) various expenses for $330 and Cash short of $23.
Explanation: cash on hand + receipts - fund balance = cash short; ex: $7 + $330 - $360 = ($23).
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