A $135 petty cash fund has cash of $44 and receipts of $93. The journal entry to replenish the account would include a
A) credit to Petty Cash for $93.
B) debit to Cash for $93.
C) credit to Cash Over and Short for $2.
D) credit to Cash for $49.
C
You might also like to view...
A direct approach is one type of qualitative research in which the purposes of the project are disclosed to the respondent or are obvious given the nature of the interview
Indicate whether the statement is true or false
Management philosophy and operating style would have a relatively less significant influence on a firm's control environment when:
A. Accurate management job descriptions delineate specific duties. B. The audit committee does not have regular meetings. C. The internal auditor reports directly to the controller. D. Management is dominated by one individual.
Discuss and distinguish libel from slander as it pertains to ordinary citizens
What will be an ideal response?
On May 22, Jarrett Company borrows $7,500 from Fairmont Financing, signing a 90-day, 8%, $7,500 note. What is the journal entry needed to record the payment of the note by Jarrett Company on the maturity date?
A. Debit Notes Payable $7,650; credit Cash $7,650. B. Debit Notes Payable $7,500; credit Interest Expense $150; credit Cash $7,350. C. Debit Notes Payable $7,500; debit Interest Expense $150; credit Cash $7,650. D. Debit Cash $7,650; credit Interest Revenue $150; credit Notes Receivable $7,500. E. Debit Notes Payable $7,500; credit Cash $7,500.