Childers Company, which uses a perpetual Inventory system, has an established petty cash fund in...

50.1K

Verified Solution

Question

Accounting

image

Childers Company, which uses a perpetual Inventory system, has an established petty cash fund in the amount of $400. The fund was last relmbursed on November 30 . At the end of December, the fund contained the following petty cash receipts: If, In addition to these recelpts, the petty cash fund contains $201 of cash, the journal entry to reimburse the fund on December 31 will include: Multiple Choice A debit to Transportation-In of $62. A debit to Petty Cash of $189. A credit to Office Supplies Expense of $30. A credit to Cash Over and Short of $10

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students