Murphy Inc maintains a balance of 2 500 in its petty
Murphy Inc. maintains a balance of $2,500 in its petty cash fund. On December 31, Murphy’s petty cash account has a balance of $216. Murphy replenishes the petty cash account to bring it back up to $2,500. Murphy classifies all petty cash transactions as miscellaneous expense.
Required:
What entry is made to record the replenishment of the petty cash fund?
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