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  3. havermill company establishes a $360 petty cash fu

Havermill Company establishes a $360 petty cash fund on September 1. On September 30, the...

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Accounting

Havermill Company establishes a $360 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $84 for Repairs Expense, $159 for merchandise inventory, and $33 for miscellaneous expenses. The fund has a balance of $84. On October 1, the accountant determines that the fund should be increased by $72. The journal entry to record the reimbursement of the fund on September 30 includes a:
Multiple Choice
Debit to Repairs Expense for $84.
Credit to Merchandise Inventory for $159.
Credit to Cash for $360
Debit Petty Cash for $276
Credit to Cash for $84.
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