Havermil Co establishes a $A60 petty cash fund on September 1. On September 30,

Question

Havermil Co establishes a $A60 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $94 for Office Supplies, $17/9 for merchandise inventory. and $43 for miscellaneous expenses The fund has a balance of $144. On October 1, the accountant determines that the fund should be increased by $92 The journal entry to record the establishment of the fund on September 1is Multiple Choice Debit Cash $460, credit Petty Cash $460 Debit Petty Cash $460, cred Accounts Payoble $460 Deb Mcellaneous Expense $460 credt Cesh 46 N M B

Explanation / Answer

Answer. Debit Petty Cash $460; credit Cash $460 Journal Entry to be passed of Sep 1: Date Particulars Dr. Amt. Cr. Amt. 1-Sep Petty Cash      460.00     Cash      460.00

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