Reference no: EM133010685
On December 31, 20x1, the petty cash fund of Karen Co. with a general leger balance of ?15,000 comprises the following:
Coins and currencies 2,550
Petty cash vouchers:
Gasoline for delivery equipment 3,000
Medical supplies for employees 2,040 5,040
IOU's:
Advances to employees 2,220
A sheet of paper with names of several employees
together with contribution to bereaved employee,
attached is a currency of 2,400
Checks:
Check drawn to the order of the petty cash custodian 3,000
Personal check drawn by the petty cash custodian 2,400
Question 1: The entry to replenish the fund on December 31, 20x1 includes a
A. credit to cash shortage or overage for ?2,910.
B. debit to cash shortage or overage for ?2,910.
C. credit to cash in bank for ?9,450.
D. credit to petty cash fund for ?9,450.
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