Spencer co. has a $350 petty cash fund. at the end of the first month the accumulated receipts represent $58 for delivery expenses, $187 for merchandise inventory, and $27 for miscellaneous expenses. the fund has a balance of $78. the journal entry to record the reimbursement of the account includes a:

a. credit to cash for $272.
b. credit to cash over and short for $78.
c. debit to cash over and short for $78.
d. debit to petty cash for $350.
e. credit to inventory for $187.

Option (A) is correct.

Explanation:

Given that,

petty cash fund = $350

accumulated receipts for delivery expenses = $58

merchandise inventory = $187

miscellaneous expenses = $27

fund has a balance = $78

Therefore,

The journal entry for the reimbursement of the account is as follows:

Delivery expenses A/c             Dr. $58

Merchandise inventory A/c      Dr. $187

Miscellaneous expenses A/c    Dr. $27

To Cash A/c                                                   $272

(To record petty cash reimbursement)

A. Credit to Cash for $272.

Explanation:

The journal entry for the reimbursement of the account is as follows:

Delivery expenses A/c             Dr. $58

Merchandise inventory A/c      Dr. $187

Miscellaneous expenses A/c    Dr. $27

To Cash A/c                                                   $272

a a car

~courtney

brainliest?

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