On July 1, 2021, Cromartie Furniture established a $150 petty cash fund. A check for $150...

 

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On July 1, 2021, Cromartie Furniture established a $150 petty cash fund. A check for $150 was made out to the petty cash custodian. During July, the petty cash custodian paid the following bills from the petty cash fund: Office supplies $ 36 Postage 22 Delivery charges 40 Bottled water 28 Total $126 At the end of July the petty cash fund was replenished. The journal entry to replenish the petty cash fund includes: Multiple Choice A credit to petty cash and a deblt to varlous expenses for $126. A debit to petty cash and a credit to cash for $150. A credit to cash and a debit to varlous expenses for $126. None of these answer cholces are correct. On July 1, 2021, Cromartie Furniture established a $150 petty cash fund. A check for $150 was made out to the petty cash custodian. During July, the petty cash custodian paid the following bills from the petty cash fund: Office supplies $ 36 Postage 22 Delivery charges 40 Bottled water 28 Total $126 At the end of July the petty cash fund was replenished. The journal entry to replenish the petty cash fund includes: Multiple Choice A credit to petty cash and a deblt to varlous expenses for $126. A debit to petty cash and a credit to cash for $150. A credit to cash and a debit to varlous expenses for $126. None of these answer cholces are correct.

Answer rating: 100% (QA)

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