Murphy Inc. maintains a balance of $2,500 in its petty cash fund. On December 31, Murphys petty

Question:

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?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

Question Posted: