ACC 4.02 Petty Cash

Dan Forest is establishing a petty cash fund. He has requested a check for $500. What is the correct journal entry to record the transaction?

• Debit Petty Cash $500 and credit Cash $500

• Debit Cash $500 and credit Petty Cash $500

• Debit Miscellaneous Expense $500 and credit Cash $500

• Debit Petty Cash $500 and credit Miscellaneous Expense $500

Mary wants to replenish the $200 petty cash fund. She has receipts for the following total payments: supplies, $25; and repairs, $45. A cash count shows $130 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Repair Expense $45, debit Supplies $25 and credit Cash $70
• Debit Cash $70 and credit Miscellaneous Expense $70
• Debit Miscellaneous Expense $70 and credit Cash $70
• Debit Repair Expense $45, debit Supplies $25 and credit Petty Cash $70

David wants to replenish the $150 petty cash fund. He has receipts for the following total payments: supplies, $36; and postage (Office Expense), $27. A cash count shows $87 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Office Expense $27, debit Supplies $36 and credit Cash $63
• Debit Cash $63 and credit Miscellaneous Expense $63
• Debit Miscellaneous Expense $63 and credit Cash $63
• Debit Office Expense $27, debit Supplies $36 and credit Petty Cash $63

Scott wants to replenish the $225 petty cash fund. He has receipts for the following total payments: supplies, $35; and repairs, $15. A cash count shows $175 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Repair Expense $15, debit Supplies $35 and credit Cash $50
• Debit Cash $50 and credit Miscellaneous Expense $50
• Debit Miscellaneous Expense $50 and credit Cash $50
• Debit Repair Expense $15, debit Supplies $35 and credit Petty Cash $50

Claire wants to establish a $250 petty cash fund for her business. She requested a check for $250. What is the correct journal entry to record the transaction?

• Debit Petty Cash $250 and credit Cash $250
• Debit Cash $250 and credit Petty Cash $250
• Debit Miscellaneous Expense $250 and credit Cash $250
• Debit Petty Cash $250 and credit Miscellaneous Expense $250

Timothy wants to replenish the $300 petty cash fund. He has receipts for the following total payments: postage (Office Expense), $35; supplies, $25; and repairs, $95. A cash count shows $160 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25, and credit cash $140, credit Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25 and credit Cash $155
• Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25 and credit Petty Cash $155
• Cash Short and Over $15
• Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25, debit Cash Short and Over $5, and credit cash $160

Michelle wants to replenish the $300 petty cash fund. She has receipts for the following total payments: postage (Office Expense), $40; supplies, $25; and repairs, $45. A cash count shows $175 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and debit Cash Short and Over Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Cash $110
• Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Petty Cash $110
• Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Cash $110, credit Cash Short and Over $15
• $15, and credit Cash $125

Emily wants to replenish the $300 petty cash fund. She has receipts for the following total payments: supplies, $55; and repairs, $35. A cash count shows $195 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Repair Expense $35, debit Supplies $55, debit Cash Short and Over $15, and credit Cash $105
• Debit Repair Expense $35, debit Supplies $55 and credit Cash $90
• Debit Repair Expense $35, debit Supplies $55 and credit Petty Cash $90
• Debit Repair Expense $35, debit Supplies $55, and credit Cash $90, credit Cash Short and Over $15

Steve wants to replenish the $200 petty cash fund. He has receipts for the following total payments: supplies, $18; and repairs, $32. A cash count shows $145 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Repair Expense $32, debit Supplies $18, debit Cash Short and Over $5, and credit Cash $55
• Debit Repair Expense $32, debit Supplies $18 and credit Cash $50
• Debit Repair Expense $32, debit Supplies $18 and credit Petty Cash $50
• Debit Repair Expense $32, debit Supplies $18, and credit Cash $60, credit Cash Short and Over $5

Daniel wants to replenish the $250 petty cash fund. He has receipts for the following total payments: postage, $34; and repairs, $76. A cash count shows $100 in the petty cash box. What is the correct journal entry to record the transaction?

• Debit Repair Expense $76, debit Office Expense $34, debit Cash Short and Over $40, and credit Cash $150
• Debit Repair Expense $76, debit Office Expense $34 and credit Cash $110
• Debit Repair Expense $76, debit Office Expense $34 and credit Petty Cash $110
• Debit Repair Expense $76, debit Office Expense $34, and credit Cash $110, credit Cash Short and Over $40