Havermill Company establishes a $400 petty cash fund on September 1. on September 30, the...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Havermill Company establishes a $400 petty cash fund on September 1. on September 30, the fund is replenished. The accumulated receipts on that date represent $88 for Office Supplies, $152 for merchandise inventory, and $37 for miscellaneous expenses. The fund has a balance of $33. On October 1, the accountant determines that the fund should be increased by $80 The journal entry to record the increase in the fund balance on October tis: Multiple Choice Debit Petty Cash $480. Credit Cash $480 Debit Cash $80, credit Petty Cash 580 Debit Miscellaneous Expense Soo, Credit Cash $80. Debit Petty Cash $80, credit Accounts Payable 580 Debit Petty Cash 580. Credit Cath $80
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: Zin AI - Your personal assistant for all your inquiries!
