Question

lpha Company replenished a $500 petty cash fund. The petty cash box contained vouchers of $87 for postage, $173 for supplies, $58 for gasoline, and cash on hand of $182. The journal entry to reflect replenishment would include:

Answer 1

Answer:

Debit to Expense of $318

Explanation:

Preparation of the journal entry to reflect replenishment

The journal entry to reflect replenishment will be Debit to Expense of $318 calculated as :

Dr Postage expense $87

Dr Supplies expense $173

Dr Gasoline expense $58

Cr Cash $318

($87+$173+$58)

( To record the replenishment of the petty cash fund)