Havermill Co establishes a 250 petty cash fund on September

Last updated: 2/26/2024

Havermill Co establishes a 250 petty cash fund on September 1 On September 30 the fund is replenished The accumulated receipts on that date represent 73 for Repairs Expense 137 for merchandise inventory and 22 for miscellaneous expenses The fund has a balance of 18 On October 1 the accountant determines that the fund should be increased by 50 The journal entry to record the reimbursement of the fund on September 30 includes a Multiple Choice Debit to Repairs Expense for 73 Credit to Merchandise Inventory for 137 Credit to Cash for 250 Debit Petty Cash for 232 Credit to Cash for 18