Assignment Print View Havermill Co. establishes a $330 petty cash fund on Septem

Question

Assignment Print View Havermill Co. establishes a $330 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on th merchandise inventory, and $30 for miscellaneous expenses. The october i, the accountant determines that the fund should be increased by $66. The journal entry to record the reimbursement of the fund on September 30 Includes a: at date represent $81 for Office Supplies, $153 for fund has a balance of $66. On O Debit to Office Supplies for $81. O Credit to Merchandise Inventory for $153 O Credit to Cash for $330. O Debit Petty Cash for $264. O Credit to Cash for $66.

Explanation / Answer

Answer is Debit Office Supplies for $81. Explanation: Journal entry for replinishment of expense: Office supplies Account Dr. 81 Merchandise inventory Account Dr. 153 Misc. expense Account Dr. 30        Cash account 264

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