Business, 15.04.2020 01:04 tammydbrooks43

Spencer Co. has a $290 petty cash fund. At the end of the first month the accumulated receipts represent $52 for delivery expenses, $163 for merchandise inventory, and $21 for miscellaneous expenses. The fund has a balance of $54. The journal entry to record the reimbursement of the account includes a:

A. Debit to Petty Cash for $290.
B. Debit to Cash Over and Short for $54.
C. Credit to Cash for $236.
D. Credit to Cash Over and Short for $54.
E. Credit to Inventory for $163.

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Spencer Co. has a $290 petty cash fund. At the end of the first month the accumulated receipts repre...

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